ETRADE Capital Management LLC Has $1,159,000 Position in IBERIABANK Corporation (IBKC)
ETRADE Capital Management LLC cut its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 9.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,261 shares of the company’s stock after selling 1,741 shares during the period. ETRADE Capital Management LLC’s holdings in IBERIABANK Corporation were worth $1,159,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of IBERIABANK Corporation by 77.9% in the third quarter. BNP Paribas Arbitrage SA now owns 3,662 shares of the company’s stock valued at $246,000 after buying an additional 1,603 shares during the last quarter. Investment Centers of America Inc. bought a new stake in shares of IBERIABANK Corporation during the second quarter worth about $340,000. Schwab Charles Investment Management Inc. boosted its stake in shares of IBERIABANK Corporation by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,035 shares of the company’s stock worth $8,843,000 after buying an additional 8,058 shares during the last quarter. Amalgamated Bank boosted its stake in shares of IBERIABANK Corporation by 9.1% in the second quarter. Amalgamated Bank now owns 4,472 shares of the company’s stock worth $288,000 after buying an additional 372 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of IBERIABANK Corporation by 32.0% in the second quarter. Legal & General Group Plc now owns 11,428 shares of the company’s stock worth $680,000 after buying an additional 2,770 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.
Shares of IBERIABANK Corporation (NASDAQ:IBKC) opened at 86.30 on Friday. IBERIABANK Corporation has a 12 month low of $44.50 and a 12 month high of $91.10. The firm’s 50-day moving average price is $82.85 and its 200-day moving average price is $74.81. The company has a market cap of $3.87 billion, a PE ratio of 20.07 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Saturday, December 31st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, December 28th. IBERIABANK Corporation’s dividend payout ratio is currently 33.49%.
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A number of equities research analysts have issued reports on IBKC shares. Zacks Investment Research raised IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Tuesday, February 7th. Iberia Capital cut IBERIABANK Corporation from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $78.00 to $72.00 in a research report on Thursday, October 27th. Raymond James Financial, Inc. cut IBERIABANK Corporation from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, October 27th. Sandler O’Neill raised IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. Finally, JMP Securities started coverage on IBERIABANK Corporation in a research report on Thursday, February 2nd. They set a “mkt perform” rating for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.50.
In other news, Vice Chairman Michael J. Brown sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $88.90, for a total transaction of $889,000.00. Following the sale, the insider now owns 109,217 shares of the company’s stock, valued at $9,709,391.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Jefferson G. Parker sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $86.52, for a total value of $432,600.00. Following the sale, the insider now directly owns 14,644 shares in the company, valued at approximately $1,266,998.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,891 shares of company stock worth $1,734,431. 3.17% of the stock is currently owned by insiders.
About IBERIABANK Corporation
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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