Millennium Management LLC boosted its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 10.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,982,114 shares of the bank’s stock after purchasing an additional 190,374 shares during the quarter. Millennium Management LLC owned 3.68% of IBERIABANK worth $153,614,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of IBKC. Victory Capital Management Inc. raised its stake in IBERIABANK by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock worth $84,748,000 after purchasing an additional 236,669 shares in the last quarter. Strs Ohio raised its stake in IBERIABANK by 887.9% in the 4th quarter. Strs Ohio now owns 220,300 shares of the bank’s stock worth $17,073,000 after purchasing an additional 198,000 shares in the last quarter. Ascend Capital LLC raised its stake in IBERIABANK by 72.2% in the 4th quarter. Ascend Capital LLC now owns 418,650 shares of the bank’s stock worth $32,446,000 after purchasing an additional 175,536 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in IBERIABANK by 72.6% in the 4th quarter. Thrivent Financial For Lutherans now owns 389,946 shares of the bank’s stock worth $30,220,000 after purchasing an additional 163,965 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in IBERIABANK by 54.1% in the 4th quarter. Mackenzie Financial Corp now owns 454,303 shares of the bank’s stock worth $35,208,000 after purchasing an additional 159,583 shares in the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.
Several analysts have weighed in on IBKC shares. SunTrust Banks upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Zacks Investment Research cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Iberia Capital cut shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, December 20th. Raymond James Financial reiterated an “outperform” rating on shares of IBERIABANK in a research note on Wednesday, December 20th. Finally, Piper Jaffray Companies set a $95.00 price objective on shares of IBERIABANK and gave the stock a “buy” rating in a research note on Monday, January 29th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.27.
IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, beating the consensus estimate of $1.26 by $0.07. The company had revenue of $290.16 million during the quarter, compared to analysts’ expectations of $285.17 million. IBERIABANK had a net margin of 12.66% and a return on equity of 6.86%. The business’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. sell-side analysts predict that IBERIABANK Corp will post 6.4 earnings per share for the current fiscal year.
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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