IBERIABANK Corp (IBKC) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board lifted its stake in IBERIABANK Corp (NASDAQ:IBKC) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,000 shares of the bank’s stock after acquiring an additional 9,060 shares during the period. State of Wisconsin Investment Board owned approximately 0.26% of IBERIABANK worth $11,067,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC boosted its stake in shares of IBERIABANK by 0.9% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,797,055 shares of the bank’s stock valued at $218,170,000 after purchasing an additional 25,531 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of IBERIABANK by 1.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,789,157 shares of the bank’s stock valued at $139,555,000 after purchasing an additional 29,296 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of IBERIABANK by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock valued at $85,530,000 after purchasing an additional 24,478 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of IBERIABANK by 1.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 721,519 shares of the bank’s stock valued at $54,691,000 after purchasing an additional 7,873 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of IBERIABANK by 144.8% in the 1st quarter. Wells Fargo & Company MN now owns 711,409 shares of the bank’s stock valued at $55,490,000 after purchasing an additional 420,831 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Several equities research analysts have recently commented on IBKC shares. Piper Jaffray Companies set a $92.00 target price on shares of IBERIABANK and gave the company a “buy” rating in a research note on Monday, April 23rd. Zacks Investment Research downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. BidaskClub downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, ValuEngine cut IBERIABANK from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. IBERIABANK currently has an average rating of “Buy” and a consensus target price of $86.83.
IBERIABANK stock opened at $86.05 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. IBERIABANK Corp has a 12-month low of $68.55 and a 12-month high of $87.55. The stock has a market capitalization of $4.75 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.62 and a beta of 1.46.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings results on Friday, July 20th. The bank reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.12. IBERIABANK had a return on equity of 8.29% and a net margin of 13.77%. The business had revenue of $311.50 million during the quarter, compared to analysts’ expectations of $304.08 million. During the same period in the previous year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. sell-side analysts predict that IBERIABANK Corp will post 6.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, September 27th. IBERIABANK’s payout ratio is currently 34.00%.
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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