Meadow Creek Investment Management LLC lowered its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,332 shares of the bank’s stock after selling 7,364 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in IBERIABANK were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of IBERIABANK by 0.7% during the fourth quarter. BlackRock Inc. now owns 3,474,613 shares of the bank’s stock worth $269,282,000 after acquiring an additional 24,958 shares during the period. Victory Capital Management Inc. increased its position in shares of IBERIABANK by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 1,093,514 shares of the bank’s stock worth $84,748,000 after acquiring an additional 236,669 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of IBERIABANK by 6.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 719,457 shares of the bank’s stock worth $55,758,000 after acquiring an additional 42,114 shares during the period. Bank of New York Mellon Corp increased its position in shares of IBERIABANK by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 460,750 shares of the bank’s stock worth $35,708,000 after acquiring an additional 5,610 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of IBERIABANK by 54.1% during the fourth quarter. Mackenzie Financial Corp now owns 454,303 shares of the bank’s stock worth $35,208,000 after acquiring an additional 159,583 shares during the period. 88.36% of the stock is currently owned by institutional investors and hedge funds.
IBKC has been the topic of a number of recent research reports. SunTrust Banks raised IBERIABANK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Zacks Investment Research lowered IBERIABANK from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Iberia Capital lowered IBERIABANK from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, December 20th. Piper Jaffray Companies set a $95.00 price objective on IBERIABANK and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of IBERIABANK in a research report on Wednesday, December 20th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $90.27.
IBERIABANK Corp (NASDAQ:IBKC) opened at $79.70 on Friday. The company has a market capitalization of $4,450.46, a price-to-earnings ratio of 30.08, a P/E/G ratio of 1.61 and a beta of 1.39. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.42. IBERIABANK Corp has a twelve month low of $68.55 and a twelve month high of $87.55.
IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Thursday, January 25th. The bank reported $1.33 EPS for the quarter, beating the consensus estimate of $1.26 by $0.07. The firm had revenue of $290.16 million for the quarter, compared to analyst estimates of $285.17 million. IBERIABANK had a return on equity of 6.86% and a net margin of 12.66%. IBERIABANK’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. equities analysts expect that IBERIABANK Corp will post 6.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, March 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.37. IBERIABANK’s dividend payout ratio is 55.85%.
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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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