Jefferies Group LLC raised its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 70.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,744 shares of the bank’s stock after buying an additional 1,962 shares during the period. Jefferies Group LLC’s holdings in IBERIABANK were worth $368,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its position in shares of IBERIABANK by 3.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 20,186 shares of the bank’s stock valued at $1,658,000 after purchasing an additional 744 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IBERIABANK by 41.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after purchasing an additional 879 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of IBERIABANK by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 38,204 shares of the bank’s stock valued at $2,961,000 after purchasing an additional 893 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of IBERIABANK by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 111,855 shares of the bank’s stock valued at $9,189,000 after purchasing an additional 1,307 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of IBERIABANK by 2.6% during the 3rd quarter. Comerica Bank now owns 58,333 shares of the bank’s stock valued at $4,317,000 after purchasing an additional 1,505 shares in the last quarter. 88.36% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Piper Jaffray Companies set a $95.00 price objective on shares of IBERIABANK and gave the company a “buy” rating in a research report on Monday, January 29th. BidaskClub lowered shares of IBERIABANK from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Raymond James Financial restated an “outperform” rating on shares of IBERIABANK in a research report on Wednesday, December 20th. Finally, Iberia Capital lowered shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, December 20th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. IBERIABANK presently has a consensus rating of “Buy” and a consensus target price of $90.27.
IBERIABANK (NASDAQ:IBKC) last announced its earnings results on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, topping the consensus estimate of $1.26 by $0.07. IBERIABANK had a net margin of 12.66% and a return on equity of 6.86%. The company had revenue of $290.16 million during the quarter, compared to analysts’ expectations of $285.17 million. During the same period last year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. sell-side analysts predict that IBERIABANK Corp will post 6.4 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, March 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.97%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, March 28th. IBERIABANK’s dividend payout ratio (DPR) is presently 55.85%.
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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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