Bank of New York Mellon Corp boosted its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,750 shares of the bank’s stock after purchasing an additional 5,610 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of IBERIABANK worth $35,708,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in IBERIABANK in the third quarter valued at $107,000. Cerebellum GP LLC acquired a new stake in IBERIABANK during the fourth quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IBERIABANK by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock worth $233,000 after acquiring an additional 879 shares during the last quarter. Bank of Montreal Can increased its stake in IBERIABANK by 139.9% during the fourth quarter. Bank of Montreal Can now owns 3,076 shares of the bank’s stock worth $239,000 after acquiring an additional 1,794 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in IBERIABANK during the third quarter worth about $361,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.
Shares of IBERIABANK Corp (NASDAQ IBKC) opened at $83.20 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.42. IBERIABANK Corp has a 12 month low of $68.55 and a 12 month high of $87.55. The stock has a market capitalization of $4,490.00, a PE ratio of 23.77, a PEG ratio of 1.66 and a beta of 1.39.
Several equities research analysts have commented on the company. Zacks Investment Research lowered IBERIABANK from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered 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 IBERIABANK and gave the stock a “buy” rating in a research note on Monday, January 29th. Raymond James Financial restated an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Finally, Iberia Capital lowered IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, December 20th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $90.27.
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IBERIABANK Company Profile
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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