IBERIABANK Corporation (IBKC) Holdings Reduced by Piermont Capital Management Inc.
Piermont Capital Management Inc. lowered its holdings in IBERIABANK Corporation (NASDAQ:IBKC) by 20.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,482 shares of the bank’s stock after selling 7,822 shares during the quarter. IBERIABANK Corporation comprises about 0.7% of Piermont Capital Management Inc.’s investment portfolio, making the stock its 27th largest position. Piermont Capital Management Inc. owned 0.06% of IBERIABANK Corporation worth $2,484,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock worth $150,000 after purchasing an additional 520 shares in the last quarter. Karp Capital Management Corp acquired a new position in IBERIABANK Corporation in the first quarter worth $214,000. Stephens Inc. AR acquired a new position in IBERIABANK Corporation in the first quarter worth $214,000. US Bancorp DE boosted its stake in IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after purchasing an additional 38 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares in the last quarter. 81.11% of the stock is currently owned by institutional investors.
IBERIABANK Corporation (NASDAQ:IBKC) remained flat at $77.45 during midday trading on Friday. 303,381 shares of the stock were exchanged. IBERIABANK Corporation has a 1-year low of $62.66 and a 1-year high of $91.10. The company has a market cap of $4.15 billion, a P/E ratio of 18.87 and a beta of 1.30. The company has a 50-day moving average of $76.83 and a 200-day moving average of $78.99.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). The company had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. On average, equities research analysts predict that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.91%. IBERIABANK Corporation’s payout ratio is presently 35.04%.
IBKC has been the topic of a number of recent analyst reports. Piper Jaffray Companies raised IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price objective on the stock in a research note on Tuesday, August 15th. Zacks Investment Research lowered IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods set a $90.00 price target on IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, June 5th. JMP Securities upped their price target on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. Finally, ValuEngine raised IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.70.
In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now directly owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.17% of the stock is currently owned by insiders.
About IBERIABANK Corporation
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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