Blair William & Co. IL decreased its position in IBERIABANK Corp (NASDAQ:IBKC) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,767 shares of the bank’s stock after selling 2,825 shares during the quarter. Blair William & Co. IL owned approximately 0.12% of IBERIABANK worth $5,513,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Simplex Trading LLC bought a new position in IBERIABANK during the third quarter worth $105,000. PNC Financial Services Group Inc. increased its position in IBERIABANK by 85.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,573 shares of the bank’s stock worth $128,000 after acquiring an additional 727 shares during the period. Valeo Financial Advisors LLC increased its position in IBERIABANK by 127.2% during the third quarter. Valeo Financial Advisors LLC now owns 2,079 shares of the bank’s stock worth $155,000 after acquiring an additional 1,164 shares during the period. Stokes & Hubbell Capital Management LLC bought a new position in IBERIABANK during the third quarter worth $205,000. Finally, First Republic Investment Management Inc. bought a new position in IBERIABANK during the second quarter worth $224,000. 85.87% of the stock is currently owned by institutional investors.
IBKC opened at $74.75 on Monday. IBERIABANK Corp has a fifty-two week low of $69.69 and a fifty-two week high of $87.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.36.
IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Friday, October 19th. The bank reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The company had revenue of $312.30 million for the quarter, compared to the consensus estimate of $311.77 million. During the same quarter in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts anticipate that IBERIABANK Corp will post 6.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Monday, December 31st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, December 28th. This is an increase from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s payout ratio is currently 34.90%.
IBKC has been the topic of a number of research reports. Stephens set a $85.00 target price on shares of IBERIABANK and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Hovde Group upgraded shares of IBERIABANK from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $82.00 to $86.00 in a research note on Friday, November 16th. ValuEngine downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 6th. Finally, BidaskClub upgraded shares of IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $86.25.
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IBERIABANK Company 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.
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