Shares of IBERIABANK Corp (NASDAQ:IBKC) have been assigned an average recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $90.00.
Several equities analysts recently commented on the stock. BidaskClub downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Piper Jaffray Companies set a $95.00 price target on shares of IBERIABANK and gave the company a “buy” rating in a research note on Monday, January 29th. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, January 10th. Hovde Group downgraded shares of IBERIABANK from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $88.00 to $82.00 in a research note on Monday, October 23rd. Finally, Raymond James Financial restated an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th.
IBERIABANK (NASDAQ IBKC) traded up $1.10 during trading hours on Tuesday, hitting $82.05. 415,800 shares of the company’s stock traded hands, compared to its average volume of 440,565. IBERIABANK has a 12-month low of $68.55 and a 12-month high of $87.55. The firm has a market capitalization of $4,360.70, a P/E ratio of 30.96, a P/E/G ratio of 1.59 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91.
The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were issued a $0.37 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. IBERIABANK’s dividend payout ratio (DPR) is currently 55.85%.
In related news, insider John R. Davis sold 3,263 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 57,886 shares in the company, valued at approximately $4,297,456.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William H. Fenstermaker acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average price of $71.81 per share, with a total value of $179,525.00. Following the acquisition, the director now owns 43,242 shares in the company, valued at $3,105,208.02. The disclosure for this purchase can be found here. 2.52% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in IBERIABANK by 0.7% in the 4th quarter. BlackRock Inc. now owns 3,474,613 shares of the bank’s stock valued at $269,282,000 after buying an additional 24,958 shares during the last quarter. State Street Corp increased its position in IBERIABANK by 20.2% during the 2nd quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after purchasing an additional 428,968 shares during the period. Victory Capital Management Inc. increased its position in IBERIABANK by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock valued at $84,748,000 after purchasing an additional 236,669 shares during the period. FMR LLC increased its position in IBERIABANK by 25.9% during the 2nd quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after purchasing an additional 148,952 shares during the period. Finally, Deprince Race & Zollo Inc. increased its position in IBERIABANK by 6.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 719,457 shares of the bank’s stock valued at $55,758,000 after purchasing an additional 42,114 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.
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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