Michael J. Brown Sells 25,000 Shares of IBERIABANK Corporation (IBKC) Stock
IBERIABANK Corporation (NASDAQ:IBKC) Vice Chairman Michael J. Brown sold 25,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $78.82, for a total transaction of $1,970,500.00. Following the transaction, the insider now directly owns 93,878 shares in the company, valued at $7,399,463.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of IBERIABANK Corporation (IBKC) traded down 0.91% on Friday, reaching $81.65. 1,048,265 shares of the company were exchanged. The firm has a market capitalization of $4.16 billion, a PE ratio of 18.91 and a beta of 1.29. The company’s 50 day moving average is $80.20 and its 200 day moving average is $81.57. IBERIABANK Corporation has a 12-month low of $55.15 and a 12-month high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, April 27th. The bank reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.05. IBERIABANK Corporation had a net margin of 20.30% and a return on equity of 7.10%. The business had revenue of $220.16 million during the quarter, compared to analysts’ expectations of $219.98 million. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Analysts forecast that IBERIABANK Corporation will post $4.60 earnings per share for the current year.
A number of equities research analysts recently weighed in on IBKC shares. Zacks Investment Research raised IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Thursday, May 25th. JMP Securities upgraded shares of IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research note on Friday, March 10th. Raymond James Financial, Inc. upgraded shares of IBERIABANK Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, May 19th. Barclays PLC upgraded shares of IBERIABANK Corporation to an “outperform” rating and set a $97.00 price objective for the company in a research report on Monday, May 1st. Finally, Keefe, Bruyette & Woods set a $90.00 price objective on shares of IBERIABANK Corporation and gave the stock a “buy” rating in a research report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.82.
Several large investors have recently made changes to their positions in IBKC. Vanguard Group Inc. raised its stake in shares of IBERIABANK Corporation by 14.0% in the first quarter. Vanguard Group Inc. now owns 4,089,357 shares of the bank’s stock worth $323,469,000 after buying an additional 502,701 shares during the last quarter. BlackRock Inc. raised its stake in IBERIABANK Corporation by 13,809.5% in the first quarter. BlackRock Inc. now owns 3,486,277 shares of the bank’s stock worth $275,765,000 after buying an additional 3,461,213 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of IBERIABANK Corporation by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,769 shares of the bank’s stock valued at $238,943,000 after buying an additional 59,390 shares during the period. State Street Corp raised its position in shares of IBERIABANK Corporation by 27.1% in the first quarter. State Street Corp now owns 2,126,739 shares of the bank’s stock valued at $168,230,000 after buying an additional 454,085 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of IBERIABANK Corporation by 22.7% in the first quarter. JPMorgan Chase & Co. now owns 1,884,509 shares of the bank’s stock valued at $149,065,000 after buying an additional 348,845 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.
IBERIABANK Corporation Company Profile
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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