Iberiabank Corp. (IBKC) CEO Sells $822,080.00 in Stock
Iberiabank Corp. (NASDAQ:IBKC) CEO Daryl G. Byrd sold 11,744 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $70.00, for a total transaction of $822,080.00. Following the transaction, the chief executive officer now directly owns 201,722 shares of the company’s stock, valued at $14,120,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Iberiabank Corp. (NASDAQ:IBKC) opened at 74.70 on Monday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 17.21 and a beta of 1.14. Iberiabank Corp. has a one year low of $42.20 and a one year high of $75.00. The company’s 50-day moving average is $68.14 and its 200-day moving average is $64.09.
Iberiabank Corp. (NASDAQ:IBKC) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.12. The company had revenue of $223.23 million for the quarter, compared to analyst estimates of $41.83 million. Iberiabank Corp. had a return on equity of 7.53% and a net margin of 19.67%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, equities analysts predict that Iberiabank Corp. will post $4.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, September 28th. This is a boost from Iberiabank Corp.’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 1.93%. Iberiabank Corp.’s dividend payout ratio is currently 33.18%.
A number of institutional investors have recently bought and sold shares of IBKC. Vanguard Group Inc. boosted its position in Iberiabank Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 2,930,976 shares of the company’s stock worth $175,067,000 after buying an additional 123,845 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Iberiabank Corp. by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,555,716 shares of the company’s stock worth $152,652,000 after buying an additional 210,882 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in Iberiabank Corp. by 24.9% in the second quarter. Silvercrest Asset Management Group LLC now owns 2,328,302 shares of the company’s stock worth $139,069,000 after buying an additional 463,720 shares during the last quarter. State Street Corp raised its stake in Iberiabank Corp. by 12.4% in the first quarter. State Street Corp now owns 1,297,781 shares of the company’s stock worth $66,538,000 after buying an additional 143,594 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Iberiabank Corp. by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 1,199,591 shares of the company’s stock worth $80,517,000 after buying an additional 175,199 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.
IBKC has been the subject of several research analyst reports. FIG Partners raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, August 8th. Zacks Investment Research cut shares of Iberiabank Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. Iberia Capital raised shares of Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 price objective for the company in a research note on Friday, October 7th. Raymond James Financial Inc. raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Thursday, August 25th. Finally, Piper Jaffray Cos. raised shares of Iberiabank Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $65.00 to $78.00 in a research note on Friday, October 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.90.
Iberiabank Corp. Company Profile
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust 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., which invests in purchased tax credits.
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