Suntrust Banks Inc. lessened its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 18.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,981 shares of the bank’s stock after selling 1,126 shares during the period. Suntrust Banks Inc.’s holdings in IBERIABANK Corporation were worth $404,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Menta Capital LLC bought a new stake in shares of IBERIABANK Corporation during the first quarter valued at approximately $1,044,000. Prudential Financial Inc. raised its stake in shares of IBERIABANK Corporation by 49.7% during the second quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock valued at $19,431,000 after acquiring an additional 79,178 shares in the last quarter. BlackRock Inc. raised its stake in shares of IBERIABANK Corporation by 13,809.5% during the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock valued at $275,765,000 after acquiring an additional 3,461,213 shares in the last quarter. Rhumbline Advisers raised its stake in shares of IBERIABANK Corporation by 6.9% during the second quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock valued at $5,303,000 after acquiring an additional 4,205 shares in the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in shares of IBERIABANK Corporation by 7.8% during the second quarter. Stieven Capital Advisors L.P. now owns 134,800 shares of the bank’s stock valued at $10,986,000 after acquiring an additional 9,800 shares in the last quarter. 81.11% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Jefferies Group LLC raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $89.00 to $94.00 in a research note on Monday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $89.00 price target on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. BidaskClub raised shares of 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 shares of 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, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. IBERIABANK Corporation presently has an average rating of “Buy” and an average price target of $90.82.
IBERIABANK Corporation (NASDAQ:IBKC) last released its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.02). The business had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. IBERIABANK Corporation’s dividend payout ratio is 36.01%.
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In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the sale, the insider now directly owns 60,553 shares in the company, valued at approximately $4,851,506.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the sale, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. 3.17% of the stock is owned by corporate insiders.
IBERIABANK Corporation 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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