IBERIABANK Sees Unusually High Options Volume (IBKC)
IBERIABANK Corp (NASDAQ:IBKC) saw unusually large options trading on Monday. Traders purchased 699 call options on the stock. This is an increase of approximately 1,271% compared to the average daily volume of 51 call options.
Several research firms have issued reports on IBKC. BidaskClub raised IBERIABANK from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research cut IBERIABANK from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research note on Friday, August 3rd. Finally, ValuEngine raised IBERIABANK from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.83.
IBKC stock opened at $86.00 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46. IBERIABANK has a 52-week low of $68.55 and a 52-week high of $87.55.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be paid a $0.39 dividend. The ex-dividend date is Thursday, September 27th. This is a boost from IBERIABANK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.81%. IBERIABANK’s payout ratio is presently 34.00%.
In other IBERIABANK news, Director Ernest P. Breaux, Jr. sold 1,200 shares of the firm’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $82.05, for a total transaction of $98,460.00. Following the completion of the sale, the director now owns 27,647 shares of the company’s stock, valued at $2,268,436.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.53% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of IBERIABANK by 13.4% in the second quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock valued at $299,525,000 after buying an additional 468,347 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of IBERIABANK by 0.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,797,055 shares of the bank’s stock valued at $218,170,000 after buying an additional 25,531 shares in the last quarter. Millennium Management LLC grew its stake in shares of IBERIABANK by 25.2% in the second quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock valued at $172,607,000 after buying an additional 458,810 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of IBERIABANK by 1.7% in the first quarter. JPMorgan Chase & Co. now owns 1,789,157 shares of the bank’s stock valued at $139,555,000 after buying an additional 29,296 shares in the last quarter. Finally, FMR LLC grew its stake in shares of IBERIABANK by 48.8% in the second quarter. FMR LLC now owns 1,351,625 shares of the bank’s stock valued at $102,453,000 after buying an additional 443,127 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.
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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