Victory Capital Management Inc. increased its position in Iberiabank Corp. (NASDAQ:IBKC) by 77.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,783 shares of the company’s stock after buying an additional 778 shares during the period. Victory Capital Management Inc.’s holdings in Iberiabank Corp. were worth $106,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. AXA bought a new position in shares of Iberiabank Corp. during the first quarter worth approximately $395,000. State Street Corp boosted its position in shares of Iberiabank Corp. by 12.4% in the first quarter. State Street Corp now owns 1,297,781 shares of the company’s stock worth $66,538,000 after buying an additional 143,594 shares during the last quarter. Credit Agricole S A boosted its position in shares of Iberiabank Corp. by 417.9% in the first quarter. Credit Agricole S A now owns 130,000 shares of the company’s stock worth $6,666,000 after buying an additional 104,900 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Iberiabank Corp. during the first quarter worth approximately $593,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Iberiabank Corp. by 50.1% in the first quarter. JPMorgan Chase & Co. now owns 973,023 shares of the company’s stock worth $49,888,000 after buying an additional 324,737 shares during the last quarter. Institutional investors own 81.47% of the company’s stock.
Shares of Iberiabank Corp. (NASDAQ:IBKC) traded up 0.436% during mid-day trading on Friday, hitting $70.315. The stock had a trading volume of 93,021 shares. The stock has a market cap of $2.89 billion, a P/E ratio of 16.368 and a beta of 1.10. The firm has a 50 day moving average price of $67.70 and a 200-day moving average price of $61.11. Iberiabank Corp. has a 12 month low of $42.20 and a 12 month high of $70.76.
Iberiabank Corp. (NASDAQ:IBKC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $227.70 million for the quarter, compared to analysts’ expectations of $224.83 million. Iberiabank Corp. had a return on equity of 7.40% and a net margin of 19.32%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, equities research analysts forecast that Iberiabank Corp. will post $4.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a dividend of $0.36 per share. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.44 dividend on an annualized basis and a yield of 2.06%. Iberiabank Corp.’s dividend payout ratio is 33.57%.
A number of research analysts recently commented on the company. Piper Jaffray Cos. upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $78.00 in a research report on Friday. Sandler O’Neill restated a “hold” rating and issued a $72.00 price target (up previously from $70.00) on shares of Iberiabank Corp. in a research report on Tuesday, September 13th. FBR & Co lifted their target price on Iberiabank Corp. from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Iberia Capital upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research report on Friday, August 26th. Finally, Raymond James Financial Inc. upgraded Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research report on Thursday, August 25th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Iberiabank Corp. presently has a consensus rating of “Buy” and a consensus price target of $65.10.
In other Iberiabank Corp. news, insider John R. Davis sold 8,560 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $68.02, for a total value of $582,251.20. Following the transaction, the insider now directly owns 57,264 shares in the company, valued at approximately $3,895,097.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth A. Ardoin sold 2,455 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $68.58, for a total value of $168,363.90. Following the completion of the transaction, the insider now owns 16,978 shares in the company, valued at $1,164,351.24. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
Iberiabank Corp. Company Profile
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
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