American International Group Inc. grew its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,923 shares of the bank’s stock after buying an additional 2,537 shares during the quarter. American International Group Inc. owned approximately 0.06% of IBERIABANK worth $2,787,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in IBERIABANK during the 3rd quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in IBERIABANK by 12.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock worth $174,000 after buying an additional 234 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in IBERIABANK during the 2nd quarter worth about $183,000. Nomura Holdings Inc. bought a new stake in IBERIABANK during the 2nd quarter worth about $205,000. Finally, IFP Advisors Inc lifted its position in IBERIABANK by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after buying an additional 20 shares in the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on IBKC shares. Stephens cut shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 20th. Piper Jaffray Companies raised shares of IBERIABANK from a “neutral” rating to an “overweight” rating and set a $89.00 price target on the stock in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. SunTrust Banks cut their price target on shares of IBERIABANK to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 25th. Finally, ValuEngine raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $89.27.
Shares of IBERIABANK Corp (NASDAQ IBKC) opened at $77.60 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4,148.00, a PE ratio of 17.99, a PEG ratio of 2.26 and a beta of 1.37. IBERIABANK Corp has a fifty-two week low of $68.55 and a fifty-two week high of $90.05.
IBERIABANK (NASDAQ:IBKC) last issued 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 firm had revenue of $270.19 million during the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 earnings per share. analysts predict that IBERIABANK Corp will post 4.27 earnings per share for the current year.
In related news, Director William H. Fenstermaker purchased 2,500 shares of the stock in a transaction on Friday, November 17th. The shares were purchased at an average cost of $71.81 per share, with a total value of $179,525.00. Following the acquisition, the director now directly owns 43,242 shares in the company, valued at $3,105,208.02. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ernest P. Breaux, Jr. sold 5,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 27,963 shares in the company, valued at $2,186,147.34. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by corporate insiders.
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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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