IBERIABANK Corporation (IBKC) Shares Sold by Employees Retirement System of Texas
Employees Retirement System of Texas reduced its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,000 shares of the bank’s stock after selling 17,000 shares during the quarter. Employees Retirement System of Texas owned about 0.10% of IBERIABANK Corporation worth $4,157,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBKC. Great West Life Assurance Co. Can grew its stake in shares of IBERIABANK Corporation by 37.2% during the first quarter. Great West Life Assurance Co. Can now owns 5,612 shares of the bank’s stock valued at $443,000 after purchasing an additional 1,521 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of IBERIABANK Corporation by 2.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,493 shares of the bank’s stock valued at $1,463,000 after purchasing an additional 480 shares during the last quarter. US Bancorp DE grew its stake in shares of IBERIABANK Corporation by 1.4% during the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after purchasing an additional 38 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of IBERIABANK Corporation by 49.4% during the first quarter. UBS Asset Management Americas Inc. now owns 28,837 shares of the bank’s stock valued at $2,281,000 after purchasing an additional 9,540 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of IBERIABANK Corporation during the first quarter valued at approximately $214,000. 81.11% of the stock is currently owned by institutional investors and hedge funds.
IBERIABANK Corporation (NASDAQ IBKC) opened at 82.15 on Friday. The company has a market capitalization of $4.41 billion, a PE ratio of 20.02 and a beta of 1.32. IBERIABANK Corporation has a 52 week low of $62.66 and a 52 week high of $91.10. The firm has a 50-day moving average of $77.24 and a 200-day moving average of $78.96.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. The business had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. Equities analysts expect that IBERIABANK Corporation will post $4.68 earnings per share for the current fiscal year.
The firm 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. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, September 28th. IBERIABANK Corporation’s payout ratio is presently 36.01%.
In other IBERIABANK Corporation news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the sale, the director now directly owns 27,963 shares of the company’s stock, valued at approximately $2,186,147.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Thursday, September 28th. ValuEngine cut shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies reissued an “overweight” rating and set a $89.00 price target on shares of IBERIABANK Corporation in a research note on Thursday. BidaskClub cut shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.50.
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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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