Comerica Bank boosted its stake in IBERIABANK Corporation (NASDAQ:IBKC) by 20.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,828 shares of the bank’s stock after buying an additional 9,614 shares during the period. Comerica Bank owned approximately 0.11% of IBERIABANK Corporation worth $4,557,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock worth $150,000 after buying an additional 520 shares during the period. Karp Capital Management Corp bought a new stake in shares of IBERIABANK Corporation during the first quarter worth $214,000. Stephens Inc. AR bought a new stake in shares of IBERIABANK Corporation during the first quarter worth $214,000. IFP Advisors Inc increased its stake in shares of IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after buying an additional 20 shares during the period. Finally, US Bancorp DE increased its stake in shares of IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after buying an additional 38 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 77.35 on Friday. The firm has a market cap of $4.15 billion, a PE ratio of 18.85 and a beta of 1.28. The stock has a 50 day moving average of $79.67 and a 200-day moving average of $80.13. IBERIABANK Corporation has a 52 week low of $62.66 and a 52 week high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.12 by $0.02. The firm had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. Analysts expect that IBERIABANK Corporation will post $4.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.44 annualized dividend and a dividend yield of 1.86%. IBERIABANK Corporation’s payout ratio is 35.04%.
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A number of analysts have weighed in on IBKC shares. BidaskClub downgraded shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Zacks Investment Research downgraded shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $90.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a report on Monday, June 5th. Finally, Iberia Capital raised shares of IBERIABANK Corporation from an “outperform” rating to a “strong-buy” rating and set a $93.00 price target for the company in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $89.00.
In other news, insider John R. Davis sold 6,141 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the completion of the transaction, the insider now owns 60,553 shares in the company, valued at approximately $4,851,506.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.17% of the stock is currently 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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