Nationwide Fund Advisors increased its position in IBERIABANK Corporation (NASDAQ:IBKC) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,200 shares of the bank’s stock after purchasing an additional 20,025 shares during the quarter. Nationwide Fund Advisors owned approximately 0.29% of IBERIABANK Corporation worth $12,241,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Menta Capital LLC acquired a new stake in IBERIABANK Corporation in the first quarter worth about $1,044,000. BlackRock Inc. increased its position in IBERIABANK Corporation by 13,809.5% in the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock worth $275,765,000 after purchasing an additional 3,461,213 shares during the period. Prudential Financial Inc. increased its position in IBERIABANK Corporation by 49.7% in the second quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after purchasing an additional 79,178 shares during the period. Rhumbline Advisers increased its position in IBERIABANK Corporation by 6.9% in the second quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after purchasing an additional 4,205 shares during the period. Finally, Prospera Financial Services Inc acquired a new stake in IBERIABANK Corporation in the second quarter worth about $301,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

A number of brokerages recently commented on IBKC. BidaskClub lowered IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, August 1st. Hovde Group upgraded IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a research report on Monday, June 5th. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, JMP Securities lifted their price objective on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. IBERIABANK Corporation has an average rating of “Buy” and an average price target of $90.70.

In other news, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.12, for a total transaction of $492,016.92. Following the completion of the transaction, the insider now directly owns 60,553 shares in the company, valued at $4,851,506.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.17% of the stock is currently owned by company insiders.

ILLEGAL ACTIVITY WARNING: This news story was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2017/09/24/nationwide-fund-advisors-increases-position-in-iberiabank-corporation-ibkc.html.

IBERIABANK Corporation (NASDAQ:IBKC) opened at 77.45 on Friday. IBERIABANK Corporation has a 52-week low of $62.66 and a 52-week high of $91.10. The stock’s 50 day moving average price is $76.83 and its 200 day moving average price is $78.99. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 18.87 and a beta of 1.30.

IBERIABANK Corporation (NASDAQ:IBKC) last posted its earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.02). The firm had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. On average, equities analysts anticipate that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.37 dividend. The ex-dividend date is Thursday, September 28th. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 1.91%. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 35.04%.

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.

Want to see what other hedge funds are holding IBKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IBERIABANK Corporation (NASDAQ:IBKC).

Institutional Ownership by Quarter for IBERIABANK Corporation (NASDAQ:IBKC)

Receive News & Ratings for IBERIABANK Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corporation and related companies with MarketBeat.com's FREE daily email newsletter.