Nationwide Fund Advisors Increases Position in IBERIABANK Corporation (IBKC)
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.
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.
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