IBERIABANK Corp (IBKC) Insider Sells $41,418.67 in Stock

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IBERIABANK Corp (NASDAQ:IBKC) insider Michael Scott Price sold 551 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $75.17, for a total value of $41,418.67. Following the sale, the insider now owns 6,654 shares in the company, valued at approximately $500,181.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:IBKC traded up $1.07 on Friday, hitting $77.02. The company’s stock had a trading volume of 5,158 shares, compared to its average volume of 352,778. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.32 and a beta of 1.53. IBERIABANK Corp has a one year low of $60.82 and a one year high of $87.50.

IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Friday, January 25th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. IBERIABANK had a return on equity of 9.98% and a net margin of 26.94%. The company had revenue of $265.99 million for the quarter, compared to the consensus estimate of $308.20 million. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts expect that IBERIABANK Corp will post 7.18 EPS for the current year.

Several research firms have issued reports on IBKC. ValuEngine lowered IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Zacks Investment Research upgraded IBERIABANK from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Wednesday. Stephens upgraded IBERIABANK from an “equal” rating to a “weight” rating and upped their price objective for the company from $78.00 to $85.00 in a research note on Wednesday, December 19th. BidaskClub upgraded IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 30th. Finally, Hovde Group upgraded IBERIABANK from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $82.00 to $86.00 in a research note on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. IBERIABANK has a consensus rating of “Buy” and a consensus target price of $88.25.

Several institutional investors have recently bought and sold shares of IBKC. Glenmede Trust Co. NA grew its position in shares of IBERIABANK by 30,291.2% in the third quarter. Glenmede Trust Co. NA now owns 650,068 shares of the bank’s stock valued at $52,882,000 after purchasing an additional 647,929 shares during the last quarter. Norges Bank acquired a new stake in IBERIABANK during the fourth quarter worth approximately $34,178,000. Alliancebernstein L.P. grew its position in IBERIABANK by 399.1% during the third quarter. Alliancebernstein L.P. now owns 408,029 shares of the bank’s stock worth $33,193,000 after buying an additional 326,273 shares in the last quarter. BlackRock Inc. grew its position in IBERIABANK by 5.1% during the fourth quarter. BlackRock Inc. now owns 4,136,443 shares of the bank’s stock worth $265,890,000 after buying an additional 198,875 shares in the last quarter. Finally, Seacliff Capital LLC acquired a new stake in IBERIABANK during the fourth quarter worth approximately $11,249,000. 84.86% of the stock is currently owned by institutional investors.

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IBERIABANK Company Profile

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

Read More: Why do company’s buyback their stock?

Insider Buying and Selling by Quarter for IBERIABANK (NASDAQ:IBKC)

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