IBERIABANK Corporation (IBKC) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,064 shares of the bank’s stock after buying an additional 4,205 shares during the period. Rhumbline Advisers owned approximately 0.13% of IBERIABANK Corporation worth $5,303,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV raised its stake in IBERIABANK Corporation by 0.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,171 shares of the bank’s stock valued at $251,000 after buying an additional 14 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in IBERIABANK Corporation by 0.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,138 shares of the bank’s stock valued at $248,000 after buying an additional 20 shares in the last quarter. IFP Advisors Inc raised its stake in IBERIABANK Corporation by 0.7% in the second quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock valued at $229,000 after buying an additional 20 shares in the last quarter. US Bancorp DE raised its stake in IBERIABANK Corporation by 1.4% in the first quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock valued at $225,000 after buying an additional 38 shares in the last quarter. Finally, Commerce Bank raised its stake in IBERIABANK Corporation by 1.0% in the first quarter. Commerce Bank now owns 5,955 shares of the bank’s stock valued at $471,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.
IBERIABANK Corporation (NASDAQ:IBKC) opened at 76.60 on Friday. The stock’s 50 day moving average price is $79.03 and its 200-day moving average price is $79.96. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 18.66 and a beta of 1.28. IBERIABANK Corporation has a 52 week low of $62.65 and a 52 week high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $239.61 million during the quarter, compared to the consensus estimate of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. On average, equities research analysts forecast that IBERIABANK Corporation will post $4.75 earnings per share for the current fiscal year.
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Several research firms have issued reports on IBKC. BidaskClub lowered IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Tuesday, August 1st. Hovde Group upgraded IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 price objective on the stock in a research note on Monday, June 5th. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Raymond James Financial, Inc. upgraded IBERIABANK Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $89.00.
In related news, insider John R. Davis sold 6,141 shares of IBERIABANK Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now owns 60,553 shares of the company’s stock, valued at approximately $4,851,506.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.17% of the company’s stock.
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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