IBERIABANK Corporation (IBKC) Insider Sells $242,245.12 in Stock
IBERIABANK Corporation (NASDAQ:IBKC) insider John R. Davis sold 3,263 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the sale, the insider now directly owns 57,886 shares in the company, valued at $4,297,456.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of IBERIABANK Corporation (NASDAQ IBKC) traded up $0.85 on Tuesday, reaching $74.25. 331,800 shares of the company’s stock were exchanged, compared to its average volume of 437,599. The company has a market capitalization of $4,000.00, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. IBERIABANK Corporation has a 1 year low of $68.55 and a 1 year high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The business had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK Corporation had a return on equity of 6.57% and a net margin of 17.14%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. analysts expect that IBERIABANK Corporation will post 4.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were paid a dividend of $0.37 per share. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a yield of 1.99%. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 43.27%.
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Several large investors have recently bought and sold shares of IBKC. Rothschild Asset Management Inc. bought a new position in shares of IBERIABANK Corporation in the second quarter valued at approximately $36,923,000. State Street Corp raised its stake in shares of IBERIABANK Corporation by 20.2% in the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after acquiring an additional 428,968 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of IBERIABANK Corporation by 323.3% in the second quarter. Teachers Advisors LLC now owns 363,805 shares of the bank’s stock valued at $29,650,000 after acquiring an additional 277,851 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of IBERIABANK Corporation by 36.7% in the third quarter. Victory Capital Management Inc. now owns 856,845 shares of the bank’s stock valued at $70,390,000 after acquiring an additional 229,900 shares during the last quarter. Finally, Thrivent Financial For Lutherans bought a new position in shares of IBERIABANK Corporation in the second quarter valued at approximately $16,352,000. Institutional investors own 80.81% of the company’s stock.
Several brokerages have recently issued reports on IBKC. Zacks Investment Research raised IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, August 1st. Robert W. Baird downgraded IBERIABANK Corporation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $97.00 to $78.00 in a research report on Monday, October 23rd. Stephens set a $95.00 price target on IBERIABANK Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. JMP Securities raised their price target on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 25th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $89.00 price target on shares of IBERIABANK Corporation in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. IBERIABANK Corporation has a consensus rating of “Buy” and a consensus price target of $89.27.
About IBERIABANK Corporation
IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE, LLC (CDE), which invests in purchased tax credits.
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