BlackRock Inc. raised its stake in IBERIABANK Corp (NASDAQ:IBKC) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,951,506 shares of the bank’s stock after purchasing an additional 468,347 shares during the quarter. BlackRock Inc. owned 6.98% of IBERIABANK worth $299,525,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. First Mercantile Trust Co. purchased a new stake in shares of IBERIABANK in the second quarter valued at approximately $117,000. Lido Advisors LLC purchased a new stake in shares of IBERIABANK in the first quarter valued at approximately $208,000. Cim Investment Mangement Inc. purchased a new stake in shares of IBERIABANK in the first quarter valued at approximately $255,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of IBERIABANK in the second quarter valued at approximately $258,000. Finally, Quantbot Technologies LP purchased a new stake in shares of IBERIABANK in the first quarter valued at approximately $273,000. Institutional investors own 87.88% of the company’s stock.
IBKC opened at $85.70 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.64 and a beta of 1.41. IBERIABANK Corp has a one year low of $68.55 and a one year high of $87.55.
IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Friday, July 20th. The bank reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.12. The company had revenue of $311.50 million for the quarter, compared to the consensus estimate of $304.08 million. IBERIABANK had a return on equity of 8.29% and a net margin of 13.77%. IBERIABANK’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. equities analysts anticipate that IBERIABANK Corp will post 6.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, September 28th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.82%. This is an increase from IBERIABANK’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, September 27th. IBERIABANK’s payout ratio is presently 34.00%.
A number of research firms recently weighed in on IBKC. BidaskClub downgraded IBERIABANK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Zacks Investment Research downgraded IBERIABANK from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, August 3rd. Finally, ValuEngine upgraded IBERIABANK from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.83.
IBERIABANK Company Profile
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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