Cornerstone Capital Management Holdings LLC. acquired a new position in shares of IBERIABANK Corp (NASDAQ:IBKC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,000 shares of the bank’s stock, valued at approximately $2,300,000. Cornerstone Capital Management Holdings LLC. owned 0.05% of IBERIABANK at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV increased its holdings in shares of IBERIABANK by 0.4% in the second quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock valued at $260,000 after buying an additional 14 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its stake in IBERIABANK by 0.6% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 9,309 shares of the bank’s stock valued at $759,000 after purchasing an additional 52 shares during the period. Commerce Bank raised its stake in IBERIABANK by 1.0% during the 2nd quarter. Commerce Bank now owns 6,015 shares of the bank’s stock valued at $490,000 after purchasing an additional 60 shares during the period. Teacher Retirement System of Texas raised its stake in IBERIABANK by 3.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,096 shares of the bank’s stock valued at $334,000 after purchasing an additional 124 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in IBERIABANK by 5.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,441 shares of the bank’s stock valued at $362,000 after purchasing an additional 213 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director William H. Fenstermaker purchased 2,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were acquired at an average cost of $71.81 per share, with a total value of $179,525.00. Following the completion of the purchase, the director now directly owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Davis sold 3,263 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now directly owns 57,886 shares in the company, valued at $4,297,456.64. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by corporate insiders.
Shares of IBERIABANK Corp (IBKC) traded up $1.75 on Thursday, hitting $81.55. 457,511 shares of the stock were exchanged, compared to its average volume of 453,276. IBERIABANK Corp has a 1-year low of $68.55 and a 1-year high of $86.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $4,310.00, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.75 and a beta of 1.37.
IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. The business had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. During the same period last year, the company earned $1.08 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. equities research analysts predict that IBERIABANK Corp will post 4.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 1.81%. IBERIABANK’s dividend payout ratio is 43.27%.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Wednesday. Robert W. Baird cut shares of IBERIABANK from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $97.00 to $78.00 in a report on Monday, October 23rd. SunTrust Banks upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Piper Jaffray Companies restated an “overweight” rating and set a $89.00 price target on shares of IBERIABANK in a report on Thursday, October 5th. Finally, Iberia Capital cut shares of IBERIABANK from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $89.27.
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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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