IBERIABANK Corporation (NASDAQ:IBKC) Director William H. Fenstermaker purchased 2,500 shares of the business’s stock in a transaction on Friday, November 17th. The stock was bought at an average cost of $71.81 per share, for a total transaction of $179,525.00. Following the purchase, the director now owns 43,242 shares of the company’s stock, valued at approximately $3,105,208.02. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of IBERIABANK Corporation (NASDAQ IBKC) traded down $0.15 on Friday, reaching $72.05. 356,000 shares of the company were exchanged, compared to its average volume of 437,950. The firm has a market capitalization of $3,870.00, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37. IBERIABANK Corporation has a fifty-two week low of $68.55 and a fifty-two week high of $91.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.13). IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.57%. The company had revenue of $270.19 million during the quarter, compared to analyst estimates of $276.02 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. IBERIABANK Corporation’s revenue for the quarter was up 21.0% on a year-over-year basis. analysts predict that IBERIABANK Corporation will post 4.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were issued a $0.37 dividend. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, September 28th. IBERIABANK Corporation’s payout ratio is currently 43.27%.
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Large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in shares of IBERIABANK Corporation in the third quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of IBERIABANK Corporation by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,133 shares of the bank’s stock valued at $174,000 after purchasing an additional 234 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of IBERIABANK Corporation in the second quarter valued at $183,000. Nomura Holdings Inc. acquired a new position in shares of IBERIABANK Corporation in the second quarter valued at $205,000. Finally, IFP Advisors Inc increased its holdings 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 valued at $229,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.
A number of brokerages have weighed in on IBKC. Zacks Investment Research raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Tuesday, August 1st. Robert W. Baird lowered shares of IBERIABANK Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the company from $97.00 to $78.00 in a research note on Monday, October 23rd. Stephens set a $95.00 price target on shares of IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. JMP Securities lifted their price target 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. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $89.00 price target on shares of IBERIABANK Corporation in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. IBERIABANK Corporation presently has a consensus rating of “Buy” and a consensus price target of $89.27.
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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