Prudential Financial Inc. increased its stake in Iberiabank Corp. (NASDAQ:IBKC) by 43.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,733 shares of the company’s stock after buying an additional 66,310 shares during the period. Prudential Financial Inc. owned 0.53% of Iberiabank Corp. worth $13,065,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBKC. Victory Capital Management Inc. raised its position in Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock valued at $106,000 after buying an additional 778 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $123,000 after buying an additional 2,030 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Iberiabank Corp. during the second quarter valued at about $179,000. Bbva Compass Bancshares Inc. purchased a new stake in shares of Iberiabank Corp. during the second quarter valued at about $206,000. Finally, IFP Advisors Inc increased its stake in shares of Iberiabank Corp. by 0.4% in the first quarter. IFP Advisors Inc now owns 4,300 shares of the company’s stock valued at $220,000 after buying an additional 19 shares during the last quarter. Institutional investors own 81.47% of the company’s stock.
Iberiabank Corp. (NASDAQ:IBKC) opened at 67.12 on Friday. The company has a 50-day moving average of $67.29 and a 200-day moving average of $60.63. The company has a market cap of $2.75 billion, a P/E ratio of 15.62 and a beta of 1.02. Iberiabank Corp. has a 52 week low of $42.20 and a 52 week high of $69.93.
Iberiabank Corp. (NASDAQ:IBKC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. Iberiabank Corp. had a net margin of 19.32% and a return on equity of 7.40%. The company earned $227.70 million during the quarter, compared to analysts’ expectations of $224.83 million. During the same quarter in the prior year, the company earned $1.05 EPS. Iberiabank Corp.’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Iberiabank Corp. will post $4.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, September 28th. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s dividend payout ratio is currently 33.57%.
IBKC has been the subject of several analyst reports. Iberia Capital raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Friday, August 26th. Zacks Investment Research raised shares of Iberiabank Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, July 6th. FBR & Co raised their price objective on shares of Iberiabank Corp. from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. FIG Partners raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Iberiabank Corp. from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.15.
In other news, EVP Anthony J. Restel sold 3,342 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $69.22, for a total value of $231,333.24. Following the completion of the sale, the executive vice president now owns 36,405 shares of the company’s stock, valued at approximately $2,519,954.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Elizabeth A. Ardoin sold 2,455 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $68.58, for a total transaction of $168,363.90. Following the completion of the sale, the insider now directly owns 16,978 shares of the company’s stock, valued at approximately $1,164,351.24. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
Iberiabank Corp. Company Profile
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
Receive News & Ratings for Iberiabank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iberiabank Corp. and related companies with MarketBeat.com's FREE daily email newsletter.