Raymond James & Associates grew its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 63.5% during the 2nd quarter, Holdings Channel reports. The firm owned 23,269 shares of the bank’s stock after buying an additional 9,037 shares during the period. Raymond James & Associates’ holdings in IBERIABANK were worth $1,764,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of IBKC. First Mercantile Trust Co. acquired a new position in shares of IBERIABANK during the 2nd quarter worth approximately $117,000. Alpine Woods Capital Investors LLC acquired a new position in shares of IBERIABANK during the 2nd quarter worth approximately $258,000. Advisors Capital Management LLC acquired a new position in shares of IBERIABANK during the 2nd quarter worth approximately $304,000. Aperio Group LLC increased its holdings in shares of IBERIABANK by 26.1% during the 2nd quarter. Aperio Group LLC now owns 4,388 shares of the bank’s stock worth $333,000 after acquiring an additional 907 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of IBERIABANK by 38.3% during the 1st quarter. Jane Street Group LLC now owns 4,337 shares of the bank’s stock worth $338,000 after acquiring an additional 1,202 shares during the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.
IBKC stock opened at $77.13 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.56 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44. IBERIABANK Corp has a 1-year low of $68.55 and a 1-year high of $87.55.
IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Friday, July 20th. The bank reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.12. The business had revenue of $311.50 million for the quarter, compared to analyst estimates of $304.08 million. IBERIABANK had a return on equity of 8.29% and a net margin of 13.77%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. Equities analysts forecast that IBERIABANK Corp will post 6.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, September 28th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.02%. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, September 27th. IBERIABANK’s dividend payout ratio is currently 34.90%.
A number of research firms recently weighed in on IBKC. BidaskClub lowered IBERIABANK from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. ValuEngine lowered IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. IBERIABANK has an average rating of “Hold” and a consensus price target of $85.20.
IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.
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