IBERIABANK Corp (IBKC) Shares Sold by Atlanta Capital Management Co. L L C
Atlanta Capital Management Co. L L C lessened its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 378,292 shares of the bank’s stock after selling 2,478 shares during the period. Atlanta Capital Management Co. L L C owned approximately 0.70% of IBERIABANK worth $31,077,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in IBKC. Aperio Group LLC boosted its stake in shares of IBERIABANK by 33.4% in the 2nd quarter. Aperio Group LLC now owns 3,611 shares of the bank’s stock worth $294,000 after buying an additional 905 shares during the last quarter. US Bancorp DE boosted its stake in shares of IBERIABANK by 45.4% in the 2nd quarter. US Bancorp DE now owns 4,146 shares of the bank’s stock worth $338,000 after buying an additional 1,295 shares during the last quarter. Sei Investments Co. boosted its stake in shares of IBERIABANK by 1,910.3% in the 2nd quarter. Sei Investments Co. now owns 79,911 shares of the bank’s stock worth $6,513,000 after buying an additional 75,936 shares during the last quarter. IFP Advisors Inc boosted 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 worth $229,000 after buying an additional 20 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of IBERIABANK by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 252,895 shares of the bank’s stock worth $20,611,000 after buying an additional 11,888 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded IBERIABANK from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group upgraded IBERIABANK from a “hold” rating to a “buy” rating and boosted their target price for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. ValuEngine downgraded IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 price objective on shares of IBERIABANK in a research note on Thursday, October 5th. Finally, Stephens downgraded IBERIABANK from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.27.
In other IBERIABANK news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the 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 sale, the director now owns 27,963 shares in the company, valued at $2,186,147.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John R. Davis sold 3,263 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the sale, the insider now owns 57,886 shares in the company, valued at approximately $4,297,456.64. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
IBERIABANK Corp (IBKC) opened at $77.60 on Friday. IBERIABANK Corp has a 12 month low of $68.55 and a 12 month high of $90.05. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4,180.31, a P/E ratio of 18.13, a P/E/G ratio of 2.27 and a beta of 1.37.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.13). The firm had revenue of $270.19 million during the quarter, compared to analysts’ expectations of $276.02 million. IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. IBERIABANK’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. equities analysts expect that IBERIABANK Corp will post 4.27 EPS for the current year.
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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