Comerica Bank boosted its position in shares of IBERIABANK Corp (NASDAQ:IBKC) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,095 shares of the bank’s stock after purchasing an additional 2,762 shares during the period. Comerica Bank owned about 0.11% of IBERIABANK worth $5,053,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in IBERIABANK during the 3rd quarter valued at about $107,000. Cerebellum GP LLC bought a new position in IBERIABANK during the 4th quarter valued at about $128,000. Cubist Systematic Strategies LLC bought a new position in IBERIABANK during the 2nd quarter valued at about $183,000. Nomura Holdings Inc. bought a new position in IBERIABANK during the 2nd quarter valued at about $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IBERIABANK by 41.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after purchasing an additional 879 shares during the last quarter. Institutional investors own 80.87% of the company’s stock.
In other news, insider John R. Davis sold 3,263 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the sale, the insider now owns 57,886 shares of the company’s stock, valued at approximately $4,297,456.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Fenstermaker purchased 2,500 shares of the stock in a transaction dated Friday, November 17th. The stock was acquired at an average cost of $71.81 per share, with a total value of $179,525.00. Following the transaction, the director now directly owns 43,242 shares in the company, valued at approximately $3,105,208.02. The disclosure for this purchase can be found here. 2.52% of the stock is owned by corporate insiders.
IBKC has been the topic of several analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of IBERIABANK in a report on Wednesday, December 20th. Stephens downgraded shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. Zacks Investment Research downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Piper Jaffray Companies set a $95.00 price target on shares of IBERIABANK and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Hovde Group downgraded shares of IBERIABANK from an “outperform” rating to a “market perform” rating and cut their price target for the company from $88.00 to $82.00 in a report on Monday, October 23rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. IBERIABANK presently has a consensus rating of “Buy” and a consensus target price of $89.82.
IBERIABANK Corp (NASDAQ:IBKC) opened at $81.80 on Wednesday. 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 company has a market cap of $4,419.96, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. IBERIABANK Corp has a one year low of $68.55 and a one year high of $87.55.
IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The business had revenue of $290.16 million for the quarter, compared to the consensus estimate of $285.17 million. IBERIABANK had a net margin of 12.66% and a return on equity of 6.92%. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. sell-side analysts anticipate that IBERIABANK Corp will post 6.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, December 29th were paid a $0.37 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. IBERIABANK’s dividend payout ratio is currently 55.85%.
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IBERIABANK 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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