Maltese Capital Management LLC grew its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 237,500 shares of the bank’s stock after acquiring an additional 37,500 shares during the period. IBERIABANK comprises approximately 1.7% of Maltese Capital Management LLC’s holdings, making the stock its 11th biggest holding. Maltese Capital Management LLC owned about 0.44% of IBERIABANK worth $19,511,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Nations Financial Group Inc. IA ADV raised its stake in shares of IBERIABANK by 0.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock valued at $260,000 after acquiring an additional 14 shares during the period. IFP Advisors Inc raised its stake in shares of IBERIABANK by 0.7% in the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after acquiring an additional 20 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in shares of IBERIABANK by 0.6% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock valued at $759,000 after acquiring an additional 52 shares during the period. Commerce Bank raised its stake in shares of IBERIABANK by 1.0% in the 2nd quarter. Commerce Bank now owns 6,015 shares of the bank’s stock valued at $490,000 after acquiring an additional 60 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of IBERIABANK by 3.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,096 shares of the bank’s stock valued at $334,000 after acquiring an additional 124 shares during the period. 80.42% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. SunTrust Banks raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. ValuEngine downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Jefferies Group raised shares of IBERIABANK from a “hold” rating to a “buy” rating and raised their target price for the company from $89.00 to $94.00 in a research note on Monday, October 9th. Piper Jaffray Companies reissued an “overweight” rating and issued a $89.00 target price on shares of IBERIABANK in a research note on Thursday, October 5th. Finally, BidaskClub downgraded shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.27.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The firm had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. analysts expect that IBERIABANK Corp will post 4.27 earnings per share for the current fiscal year.
In related news, Director William H. Fenstermaker acquired 2,500 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was bought at an average cost of $71.81 per share, with a total value of $179,525.00. Following the acquisition, the director now directly owns 43,242 shares in the company, valued at $3,105,208.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The disclosure for this sale can be found here. Insiders own 2.52% of the company’s stock.
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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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