Bank of Montreal Can lessened its holdings in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 92.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282 shares of the bank’s stock after selling 14,953 shares during the period. Bank of Montreal Can’s holdings in IBERIABANK Corporation were worth $104,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of IBERIABANK Corporation by 37.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after purchasing an additional 520 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of IBERIABANK Corporation during the 1st quarter valued at about $214,000. Stephens Inc. AR bought a new position in shares of IBERIABANK Corporation during the 1st quarter valued at about $214,000. US Bancorp DE lifted its holdings in shares of IBERIABANK Corporation by 1.4% during the 1st quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after purchasing an additional 38 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of IBERIABANK Corporation by 0.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock valued at $248,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.
Several equities analysts have recently weighed in on the company. Piper Jaffray Companies upgraded IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price objective on the stock in a report on Tuesday, August 15th. Zacks Investment Research cut IBERIABANK Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. BidaskClub cut IBERIABANK Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, JMP Securities boosted their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $89.00.
In other news, insider John R. Davis sold 6,141 shares of the firm’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 value of $492,016.92. Following the transaction, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.52% of the stock is owned by company insiders.
IBERIABANK Corporation (NASDAQ:IBKC) traded up 2.92% on Tuesday, hitting $75.80. The company’s stock had a trading volume of 143,445 shares. IBERIABANK Corporation has a 12 month low of $62.65 and a 12 month high of $91.10. The firm has a 50 day moving average of $77.84 and a 200-day moving average of $79.41. The stock has a market cap of $4.06 billion, a PE ratio of 18.47 and a beta of 1.30.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. The firm had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million. On average, analysts expect that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.
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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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