Basswood Capital Management L.L.C. cut its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,789 shares of the bank’s stock after selling 51,045 shares during the period. IBERIABANK comprises approximately 1.1% of Basswood Capital Management L.L.C.’s holdings, making the stock its 27th largest holding. Basswood Capital Management L.L.C. owned approximately 0.52% of IBERIABANK worth $18,499,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avalon Advisors LLC acquired a new position in IBERIABANK during the 4th quarter worth $2,418,000. Lido Advisors LLC lifted its stake in shares of IBERIABANK by 17.9% in the 4th quarter. Lido Advisors LLC now owns 3,886 shares of the bank’s stock valued at $251,000 after purchasing an additional 590 shares during the period. Kings Point Capital Management acquired a new position in shares of IBERIABANK in the 4th quarter valued at $197,000. Geode Capital Management LLC lifted its stake in shares of IBERIABANK by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 720,988 shares of the bank’s stock valued at $46,345,000 after purchasing an additional 49,577 shares during the period. Finally, EJF Capital LLC acquired a new position in shares of IBERIABANK in the 4th quarter valued at $1,607,000. Institutional investors and hedge funds own 84.86% of the company’s stock.
A number of research firms have recently weighed in on IBKC. BidaskClub downgraded IBERIABANK from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised IBERIABANK from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Wednesday. Stephens increased their price target on IBERIABANK from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Monday, January 28th. Finally, ValuEngine raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.25.
In related news, insider Michael Scott Price sold 551 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $75.17, for a total transaction of $41,418.67. Following the sale, the insider now owns 6,654 shares of the company’s stock, valued at approximately $500,181.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Anthony J. Restel sold 7,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $74.01, for a total value of $518,070.00. Following the sale, the insider now directly owns 57,592 shares in the company, valued at approximately $4,262,383.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,502 shares of company stock worth $1,609,475 in the last ninety days. 2.53% of the stock is currently owned by company insiders.
IBKC stock opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $4.17 billion, a PE ratio of 11.43, a P/E/G ratio of 1.32 and a beta of 1.53. IBERIABANK Corp has a twelve month low of $60.82 and a twelve month high of $87.50.
IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings data on Friday, January 25th. The bank reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.08. The business had revenue of $265.99 million for the quarter, compared to the consensus estimate of $308.20 million. IBERIABANK had a return on equity of 9.98% and a net margin of 26.94%. During the same quarter last year, the business posted $1.33 EPS. On average, analysts expect that IBERIABANK Corp will post 7.18 earnings per share for the current fiscal year.
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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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