Daryl G. Byrd Sells 13,256 Shares of Iberiabank Corp. (IBKC) Stock
Iberiabank Corp. (NASDAQ:IBKC) CEO Daryl G. Byrd sold 13,256 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $75.00, for a total transaction of $994,200.00. Following the completion of the transaction, the chief executive officer now directly owns 200,080 shares of the company’s stock, valued at approximately $15,006,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Iberiabank Corp. (NASDAQ:IBKC) opened at 78.65 on Wednesday. The firm has a market capitalization of $3.23 billion, a PE ratio of 18.11 and a beta of 1.14. The stock has a 50 day moving average of $68.79 and a 200-day moving average of $64.47. Iberiabank Corp. has a one year low of $42.20 and a one year high of $80.45.
Iberiabank Corp. (NASDAQ:IBKC) last released its earnings results on Wednesday, October 26th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.12. The business had revenue of $223.23 million for the quarter, compared to analysts’ expectations of $41.83 million. Iberiabank Corp. had a net margin of 19.67% and a return on equity of 7.53%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last 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 company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were given a dividend of $0.36 per share. This is a positive change from Iberiabank Corp.’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, September 28th. Iberiabank Corp.’s dividend payout ratio is currently 33.18%.
Several brokerages recently weighed in on IBKC. FBR & Co set a $73.00 target price on shares of Iberiabank Corp. and gave the company a “buy” rating in a report on Sunday, October 30th. Sandler O’Neill reaffirmed a “hold” rating and issued a $72.00 target price (up previously from $70.00) on shares of Iberiabank Corp. in a report on Tuesday, September 13th. Raymond James Financial Inc. raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Thursday, August 25th. Keefe, Bruyette & Woods raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating and raised their target price for the company from $67.00 to $72.00 in a report on Wednesday, August 17th. Finally, FIG Partners raised shares of Iberiabank Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.90.
Several large investors have recently bought and sold shares of IBKC. Dynamic Technology Lab Private Ltd raised its stake in Iberiabank Corp. by 0.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 7,523 shares of the company’s stock valued at $450,000 after buying an additional 19 shares in the last quarter. Advisor Group Inc. raised its stake in Iberiabank Corp. by 0.9% in the third quarter. Advisor Group Inc. now owns 2,165 shares of the company’s stock valued at $145,000 after buying an additional 20 shares in the last quarter. Ronald Blue & Co. LLC raised its stake in Iberiabank Corp. by 0.3% in the third quarter. Ronald Blue & Co. LLC now owns 12,356 shares of the company’s stock valued at $829,000 after buying an additional 32 shares in the last quarter. Commerce Bank raised its stake in Iberiabank Corp. by 0.8% in the second quarter. Commerce Bank now owns 6,040 shares of the company’s stock valued at $361,000 after buying an additional 45 shares in the last quarter. Finally, People s United Financial Inc. raised its stake in Iberiabank Corp. by 0.9% in the third quarter. People s United Financial Inc. now owns 9,222 shares of the company’s stock valued at $619,000 after buying an additional 85 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.
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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