Fmr LLC Acquires 443,127 Shares of IBERIABANK Corp (IBKC)

Fmr LLC increased its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 48.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,351,625 shares of the bank’s stock after purchasing an additional 443,127 shares during the period. Fmr LLC owned 2.41% of IBERIABANK worth $102,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of IBERIABANK by 13.4% during the second quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock valued at $299,525,000 after purchasing an additional 468,347 shares in the last quarter. Millennium Management LLC boosted its stake in IBERIABANK by 25.2% in the second quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock valued at $172,607,000 after acquiring an additional 458,810 shares in the last quarter. Victory Capital Management Inc. boosted its stake in IBERIABANK by 2.2% in the second quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock valued at $85,530,000 after acquiring an additional 24,478 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in IBERIABANK by 1.1% in the second quarter. Deprince Race & Zollo Inc. now owns 721,519 shares of the bank’s stock valued at $54,691,000 after acquiring an additional 7,873 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in IBERIABANK by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 561,486 shares of the bank’s stock valued at $42,561,000 after acquiring an additional 23,117 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

IBKC has been the subject of several recent analyst reports. Stephens set a $91.00 target price on shares of IBERIABANK and gave the company a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Tuesday, September 25th. BidaskClub downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, ValuEngine upgraded shares of IBERIABANK from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $87.33.

Shares of IBKC opened at $76.23 on Friday. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.46 and a beta of 1.36. IBERIABANK Corp has a twelve month low of $68.55 and a twelve month high of $87.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93.

IBERIABANK (NASDAQ:IBKC) last announced its earnings results on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.06. The company had revenue of $312.30 million during the quarter, compared to the consensus estimate of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. IBERIABANK’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.00 earnings per share. On average, equities analysts predict that IBERIABANK Corp will post 6.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s dividend payout ratio (DPR) is currently 34.90%.

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IBERIABANK Profile

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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