IBERIABANK Corporation (IBKC) Shares Sold by ETRADE Capital Management LLC
ETRADE Capital Management LLC trimmed its position in IBERIABANK Corporation (NASDAQ:IBKC) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,764 shares of the bank’s stock after selling 274 shares during the quarter. ETRADE Capital Management LLC’s holdings in IBERIABANK Corporation were worth $877,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in IBKC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IBERIABANK Corporation by 37.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock worth $150,000 after purchasing an additional 520 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of IBERIABANK Corporation in the first quarter worth about $214,000. Stephens Inc. AR purchased a new position in shares of IBERIABANK Corporation in the first quarter worth about $214,000. US Bancorp DE raised its stake in shares of IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after purchasing an additional 38 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.
IBERIABANK Corporation (IBKC) opened at 77.45 on Monday. The company’s 50-day moving average price is $76.83 and its 200 day moving average price is $78.99. IBERIABANK Corporation has a 12 month low of $62.66 and a 12 month high of $91.10. The stock has a market capitalization of $4.15 billion, a PE ratio of 18.87 and a beta of 1.30.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.02). The firm had revenue of $239.61 million during the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. On average, analysts forecast that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend 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 is currently 35.04%.
In other IBERIABANK Corporation news, insider John R. Davis sold 6,141 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.52% of the stock is owned by corporate insiders.
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Several research analysts have recently issued reports on IBKC shares. Piper Jaffray Companies upgraded 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 IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods set a $90.00 price objective on IBERIABANK Corporation and gave the stock a “buy” rating in a research note on Monday, June 5th. JMP Securities raised their price objective on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 25th. Finally, ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment 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 stock. The company has an average rating of “Buy” and an average target price of $90.70.
IBERIABANK Corporation Company Profile
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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