Middleton & Co Inc MA Acquires Shares of 13,575 IBERIABANK Corporation (IBKC)
Middleton & Co Inc MA acquired a new position in shares of IBERIABANK Corporation (NASDAQ:IBKC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,575 shares of the bank’s stock, valued at approximately $1,115,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in IBERIABANK Corporation by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock worth $362,000 after purchasing an additional 213 shares during the last quarter. Prudential Financial Inc. increased its position in IBERIABANK Corporation by 49.7% during the second quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after purchasing an additional 79,178 shares during the last quarter. BlackRock Inc. increased its position in IBERIABANK Corporation by 13,809.5% during the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock worth $275,765,000 after purchasing an additional 3,461,213 shares during the last quarter. Rhumbline Advisers increased its position in IBERIABANK Corporation by 6.9% during the second quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after purchasing an additional 4,205 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in IBERIABANK Corporation by 10.5% during the second quarter. Goldman Sachs Group Inc. now owns 179,709 shares of the bank’s stock worth $14,647,000 after purchasing an additional 17,045 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). The business had revenue of $270.19 million for the quarter, compared to analyst estimates of $276.02 million. IBERIABANK Corporation had a return on equity of 6.79% and a net margin of 17.14%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $1.08 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, September 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio is 42.05%.
Several brokerages have weighed in on IBKC. ValuEngine lowered shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Jefferies Group LLC raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $94.00 in a research note on Monday, October 9th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $89.00 target price on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. Stephens set a $95.00 target price on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Finally, BidaskClub lowered shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.27.
In related news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the 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 completion of the sale, the director now owns 27,963 shares of the company’s stock, valued at approximately $2,186,147.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Davis sold 6,141 shares of the 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 of the company’s stock, valued at approximately $4,851,506.36. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by corporate insiders.
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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