35,072 Shares in IBERIABANK Corporation (IBKC) Acquired by WBI Investments Inc.
WBI Investments Inc. acquired a new stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,072 shares of the bank’s stock, valued at approximately $2,858,000. WBI Investments Inc. owned 0.07% of IBERIABANK Corporation as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV grew its stake in shares of IBERIABANK Corporation by 0.4% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 3,185 shares of the bank’s stock valued at $260,000 after buying an additional 14 shares during the period. Martingale Asset Management L P grew its stake in shares of IBERIABANK Corporation by 20.3% during the 2nd quarter. Martingale Asset Management L P now owns 30,819 shares of the bank’s stock valued at $2,512,000 after buying an additional 5,201 shares during the period. Alliancebernstein L.P. grew its stake in shares of IBERIABANK Corporation by 16.5% during the 2nd quarter. Alliancebernstein L.P. now owns 72,856 shares of the bank’s stock valued at $5,938,000 after buying an additional 10,300 shares during the period. Kennedy Capital Management Inc. grew its stake in shares of IBERIABANK Corporation by 5.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 298,639 shares of the bank’s stock valued at $24,339,000 after buying an additional 16,408 shares during the period. Finally, LSV Asset Management grew its stake in shares of IBERIABANK Corporation by 3.1% during the 2nd quarter. LSV Asset Management now owns 81,900 shares of the bank’s stock valued at $6,674,000 after buying an additional 2,434 shares during the period. 81.13% of the stock is owned by institutional investors.
Shares of IBERIABANK Corporation (NASDAQ IBKC) remained flat at $75.75 during mid-day trading on Wednesday. The company’s stock had a trading volume of 34,440 shares. The company has a market capitalization of $4.06 billion, a P/E ratio of 18.46 and a beta of 1.30. IBERIABANK Corporation has a one year low of $62.66 and a one year high of $91.10. The stock’s 50 day moving average price is $77.72 and its 200-day moving average price is $79.37.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. The business had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. On average, equities research analysts forecast that IBERIABANK Corporation will post $4.76 earnings per share for the current year.
Several brokerages have recently issued reports on IBKC. Piper Jaffray Companies raised shares of IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price objective for the company in a research note on Tuesday, August 15th. Zacks Investment Research cut shares of IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stephens set a $95.00 price objective on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub cut shares of IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, JMP Securities boosted their price objective on shares of IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $89.00.
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In other news, insider John R. Davis sold 6,141 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the transaction, the insider now owns 60,553 shares in the company, valued at approximately $4,851,506.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.52% of the company’s stock.
About IBERIABANK Corporation
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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