Pitcairn Co. reduced its position in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 4,477 shares of the bank’s stock after selling 155 shares during the period. Pitcairn Co.’s holdings in IBERIABANK Corporation were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IBKC. Nations Financial Group Inc. IA ADV boosted its position in IBERIABANK Corporation by 0.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,171 shares of the bank’s stock worth $251,000 after buying an additional 14 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock worth $248,000 after buying an additional 20 shares during the last quarter. IFP Advisors Inc boosted its position 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 buying an additional 20 shares during the last quarter. US Bancorp DE boosted its position 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 buying an additional 38 shares during the last quarter. Finally, Commerce Bank boosted its position in IBERIABANK Corporation by 1.0% in the first quarter. Commerce Bank now owns 5,955 shares of the bank’s stock worth $471,000 after buying an additional 60 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

Shares of IBERIABANK Corporation (IBKC) opened at 78.90 on Wednesday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 19.23 and a beta of 1.28. The company’s 50 day moving average is $80.67 and its 200-day moving average is $80.43. IBERIABANK Corporation has a 1-year low of $62.65 and a 1-year high of $91.10.

IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings data on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.12 by $0.02. The firm had revenue of $239.61 million during the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. Equities analysts anticipate that IBERIABANK Corporation will post $4.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 30th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, June 28th. IBERIABANK Corporation’s dividend payout ratio is currently 35.04%.

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A number of research analysts have commented on the stock. BidaskClub cut shares of IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, August 1st. Piper Jaffray Companies raised shares of IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price target on the stock in a research report on Tuesday. Hovde Group raised shares of IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 price target on the stock in a research report on Monday, June 5th. Finally, Barclays PLC raised shares of IBERIABANK Corporation to an “outperform” rating and set a $97.00 price target on the stock in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. IBERIABANK Corporation has an average rating of “Buy” and a consensus price target of $86.92.

In related news, insider John R. Davis sold 6,141 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael J. Brown sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $78.82, for a total value of $1,970,500.00. Following the transaction, the insider now directly owns 93,878 shares in the company, valued at $7,399,463.96. The disclosure for this sale can be found here. Insiders own 2.52% of the company’s stock.

IBERIABANK Corporation Company Profile

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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Institutional Ownership by Quarter for IBERIABANK Corporation (NASDAQ:IBKC)

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