Monarch Partners Asset Management LLC Lowers Holdings in IBERIABANK Corp (NASDAQ:IBKC)

Monarch Partners Asset Management LLC decreased its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,663 shares of the bank’s stock after selling 1,645 shares during the quarter. IBERIABANK makes up approximately 1.3% of Monarch Partners Asset Management LLC’s holdings, making the stock its 28th largest holding. Monarch Partners Asset Management LLC owned 0.22% of IBERIABANK worth $8,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in IBERIABANK in the 2nd quarter valued at about $372,000. D. E. Shaw & Co. Inc. lifted its stake in shares of IBERIABANK by 41.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 183,441 shares of the bank’s stock valued at $13,914,000 after purchasing an additional 53,863 shares in the last quarter. Invesco Ltd. lifted its stake in shares of IBERIABANK by 123.1% in the 2nd quarter. Invesco Ltd. now owns 771,501 shares of the bank’s stock valued at $58,518,000 after purchasing an additional 425,644 shares in the last quarter. IFG Advisory LLC acquired a new position in shares of IBERIABANK in the 2nd quarter valued at about $859,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of IBERIABANK by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 501,733 shares of the bank’s stock valued at $38,057,000 after purchasing an additional 3,625 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Several research firms have recently weighed in on IBKC. BidaskClub raised IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods lowered IBERIABANK from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $85.00 to $87.00 in a research note on Thursday. Stephens set a $83.00 price objective on IBERIABANK and gave the company a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Sandler O’Neill lowered IBERIABANK from a “buy” rating to a “hold” rating and reduced their price objective for the company from $86.00 to $76.00 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $83.00.

IBERIABANK stock traded up $0.25 during midday trading on Friday, hitting $76.95. 622,900 shares of the company were exchanged, compared to its average volume of 340,046. The company’s fifty day moving average price is $74.85 and its 200-day moving average price is $74.75. The company has a market cap of $4.12 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.96 and a quick ratio of 0.95. IBERIABANK Corp has a fifty-two week low of $60.82 and a fifty-two week high of $81.86.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, October 18th. The bank reported $1.82 EPS for the quarter, topping the consensus estimate of $1.79 by $0.03. The firm had revenue of $313.01 million for the quarter, compared to analyst estimates of $312.94 million. IBERIABANK had a return on equity of 10.16% and a net margin of 28.75%. IBERIABANK’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 EPS. On average, analysts expect that IBERIABANK Corp will post 7.12 EPS for the current fiscal year.

In related news, CEO Daryl G. Byrd sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.44, for a total transaction of $422,640.00. Following the transaction, the chief executive officer now directly owns 254,281 shares of the company’s stock, valued at approximately $17,911,553.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.65% of the company’s stock.

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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Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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