Credit Suisse AG reduced its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 20.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,552 shares of the bank’s stock after selling 17,513 shares during the period. Credit Suisse AG owned 0.14% of IBERIABANK Corporation worth $5,500,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in IBERIABANK Corporation during the fourth quarter valued at about $474,000. Norges Bank bought a new position in IBERIABANK Corporation during the fourth quarter valued at about $33,135,000. USA Financial Portformulas Corp bought a new position in IBERIABANK Corporation during the fourth quarter valued at about $308,000. Highbridge Capital Management LLC bought a new position in IBERIABANK Corporation during the fourth quarter valued at about $1,930,000. Finally, Quantitative Systematic Strategies LLC raised its position in IBERIABANK Corporation by 173.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 7,913 shares of the bank’s stock valued at $626,000 after buying an additional 5,014 shares in the last quarter. 86.06% of the stock is owned by institutional investors.
IBERIABANK Corporation (IBKC) opened at 81.00 on Wednesday. The stock’s 50 day moving average is $80.94 and its 200 day moving average is $80.58. IBERIABANK Corporation has a one year low of $60.89 and a one year high of $91.10. The firm has a market capitalization of $4.13 billion, a P/E ratio of 19.74 and a beta of 1.28.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by $0.02. IBERIABANK Corporation had a return on equity of 7.14% and a net margin of 20.08%. The company had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. On average, equities research analysts predict that IBERIABANK Corporation will post $4.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 30th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Wednesday, June 28th. IBERIABANK Corporation’s payout ratio is presently 35.04%.
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Several research firms have weighed in on IBKC. Hovde Group upgraded IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Monday, June 5th. Zacks Investment Research downgraded IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Barclays PLC raised IBERIABANK Corporation to an “outperform” rating and set a $97.00 price target on the stock in a research note on Monday, May 1st. BidaskClub raised IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Stephens set a $95.00 price target on IBERIABANK Corporation and gave the company a “buy” rating in a research note on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.92.
In other IBERIABANK Corporation news, EVP Haddon Spurgeon Mackie, Jr. sold 4,217 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $81.86, for a total value of $345,203.62. Following the transaction, the executive vice president now owns 10,852 shares in the company, valued at $888,344.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the transaction, the insider now owns 93,878 shares in the company, valued at approximately $7,399,463.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,364 shares of company stock worth $2,650,159. 2.52% of the stock is owned by corporate insiders.
IBERIABANK Corporation 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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