Legal & General Group Plc boosted its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,332 shares of the bank’s stock after purchasing an additional 2,620 shares during the quarter. Legal & General Group Plc owned about 0.06% of IBERIABANK worth $2,079,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in IBKC. Thrivent Financial for Lutherans lifted its stake in IBERIABANK by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 405,317 shares of the bank’s stock worth $26,262,000 after acquiring an additional 7,072 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in IBERIABANK by 337.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,333 shares of the bank’s stock worth $1,114,000 after acquiring an additional 13,375 shares during the period. Squarepoint Ops LLC lifted its stake in IBERIABANK by 185.5% in the fourth quarter. Squarepoint Ops LLC now owns 112,226 shares of the bank’s stock worth $7,214,000 after acquiring an additional 72,916 shares during the period. Schafer Cullen Capital Management Inc purchased a new stake in IBERIABANK in the fourth quarter worth about $337,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in IBERIABANK by 73.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 52,716 shares of the bank’s stock worth $3,389,000 after acquiring an additional 22,408 shares during the period. 87.31% of the stock is currently owned by institutional investors.
In other IBERIABANK news, Director Ricky E. Maples purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 29th. The shares were bought at an average price of $75.60 per share, for a total transaction of $189,000.00. Following the acquisition, the director now owns 6,100 shares in the company, valued at $461,160. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Michael J. Brown sold 8,951 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $74.98, for a total transaction of $671,145.98. Following the completion of the transaction, the insider now owns 121,530 shares in the company, valued at approximately $9,112,319.40. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 8,500 shares of company stock valued at $645,450 and have sold 21,502 shares valued at $1,609,475. Corporate insiders own 2.65% of the company’s stock.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, January 25th. The bank reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.08. The business had revenue of $265.99 million during the quarter, compared to analyst estimates of $308.20 million. IBERIABANK had a net margin of 26.94% and a return on equity of 9.98%. During the same period in the prior year, the firm posted $1.33 earnings per share. Analysts predict that IBERIABANK Corp will post 7.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.27%. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, March 28th. IBERIABANK’s dividend payout ratio is presently 25.71%.
A number of analysts recently weighed in on the stock. ValuEngine lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Wednesday, March 13th. BidaskClub raised shares of IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 30th. Raymond James set a $85.00 price objective on shares of IBERIABANK and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Stephens set a $85.00 price objective on shares of IBERIABANK and gave the stock a “buy” rating in a research note on Friday, January 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $87.60.
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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.
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