Strs Ohio cut its position in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,800 shares of the bank’s stock after selling 300 shares during the period. Strs Ohio’s holdings in IBERIABANK Corporation were worth $1,776,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IBKC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 last quarter. Karp Capital Management Corp purchased a new position in shares of IBERIABANK Corporation during the first quarter worth approximately $214,000. Stephens Inc. AR purchased a new position in shares of IBERIABANK Corporation during the first quarter worth approximately $214,000. US Bancorp DE boosted its position 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 last quarter. Finally, PNC Financial Services Group Inc. increased its stake in IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after buying an additional 20 shares during the last quarter. Institutional investors own 87.34% of the company’s stock.
Shares of IBERIABANK Corporation (NASDAQ IBKC) opened at 77.70 on Friday. The firm’s 50-day moving average price is $80.64 and its 200-day moving average price is $80.55. IBERIABANK Corporation has a one year low of $62.66 and a one year high of $91.10. The firm has a market capitalization of $3.96 billion, a P/E ratio of 18.94 and a beta of 1.28.
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 business had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 7.14% and a net margin of 20.08%. On average, equities analysts forecast that IBERIABANK Corporation will post $4.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 30th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, June 28th. IBERIABANK Corporation’s dividend payout ratio is presently 35.04%.
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A number of analysts recently weighed in on the company. BidaskClub downgraded IBERIABANK Corporation from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Tuesday, August 1st. Hovde Group upgraded IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a report on Monday, June 5th. Robert W. Baird upgraded IBERIABANK Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $88.00 to $97.00 in a report on Monday, May 1st. Finally, Barclays PLC upgraded IBERIABANK Corporation to an “outperform” rating and set a $97.00 price objective for the company in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. IBERIABANK Corporation has a consensus rating of “Buy” and a consensus price target of $86.92.
In other IBERIABANK Corporation news, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $78.82, for a total value of $1,970,500.00. Following the completion of the sale, the insider now directly owns 93,878 shares of the company’s stock, valued at $7,399,463.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Stewart Shea III sold 4,147 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $80.65, for a total transaction of $334,455.55. Following the completion of the sale, the director now directly owns 13,179 shares of the company’s stock, valued at $1,062,886.35. The disclosure for this sale can be found here. Insiders sold 35,288 shares of company stock valued at $2,796,972 over the last three months. 3.17% of the stock is currently owned by insiders.
About IBERIABANK Corporation
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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