Loomis Sayles & Co. L P grew its position in IBERIABANK Corp (NASDAQ:IBKC) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 221,206 shares of the bank’s stock after purchasing an additional 3,476 shares during the period. Loomis Sayles & Co. L P’s holdings in IBERIABANK were worth $17,995,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of IBKC. Aperio Group LLC raised its holdings in IBERIABANK by 26.1% in the second quarter. Aperio Group LLC now owns 4,388 shares of the bank’s stock valued at $333,000 after acquiring an additional 907 shares in the last quarter. Comerica Bank raised its holdings in IBERIABANK by 2.4% in the second quarter. Comerica Bank now owns 61,699 shares of the bank’s stock valued at $4,689,000 after acquiring an additional 1,423 shares in the last quarter. First Trust Advisors LP raised its holdings in IBERIABANK by 23.5% in the second quarter. First Trust Advisors LP now owns 89,472 shares of the bank’s stock valued at $6,782,000 after acquiring an additional 17,014 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in IBERIABANK in the second quarter valued at approximately $7,443,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in IBERIABANK in the second quarter valued at approximately $713,000. 88.00% of the stock is currently owned by institutional investors.
IBKC stock opened at $71.17 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. IBERIABANK Corp has a twelve month low of $69.61 and a twelve month high of $87.55. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.34 and a beta of 1.34.
IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings data on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. During the same quarter last year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts predict that IBERIABANK Corp will post 6.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.64 dividend on an annualized basis and a yield of 2.30%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s dividend payout ratio (DPR) is presently 34.90%.
Several analysts recently weighed in on the stock. BidaskClub cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Tuesday, September 25th. ValuEngine cut shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Stephens set a $91.00 price objective on shares of IBERIABANK and gave the stock a “hold” rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $86.25.
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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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