IBERIABANK Corporation (IBKC) Holdings Cut by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lessened its stake in shares of IBERIABANK Corporation (NASDAQ:IBKC) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,648 shares of the bank’s stock after selling 1,189 shares during the period. UBS Asset Management Americas Inc. owned about 0.05% of IBERIABANK Corporation worth $2,253,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Menta Capital LLC acquired a new stake in IBERIABANK Corporation during the 1st quarter worth about $1,044,000. Prudential Financial Inc. raised its holdings in IBERIABANK Corporation by 49.7% during the 2nd quarter. Prudential Financial Inc. now owns 238,413 shares of the bank’s stock worth $19,431,000 after buying an additional 79,178 shares during the period. BlackRock Inc. raised its holdings in IBERIABANK Corporation by 13,809.5% during the 1st 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 during the period. Rhumbline Advisers raised its holdings in IBERIABANK Corporation by 6.9% during the 2nd quarter. Rhumbline Advisers now owns 65,064 shares of the bank’s stock worth $5,303,000 after buying an additional 4,205 shares during the period. Finally, Stieven Capital Advisors L.P. raised its holdings in IBERIABANK Corporation by 7.8% during the 2nd quarter. Stieven Capital Advisors L.P. now owns 134,800 shares of the bank’s stock worth $10,986,000 after buying an additional 9,800 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.
In other news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the sale, the director now owns 27,963 shares of the company’s stock, valued at $2,186,147.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John R. Davis sold 6,141 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.12, for a total value of $492,016.92. Following the sale, the insider now directly owns 60,553 shares in the company, valued at approximately $4,851,506.36. The disclosure for this sale can be found here. Company insiders own 3.17% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “IBERIABANK Corporation (IBKC) Holdings Cut by UBS Asset Management Americas Inc.” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.thecerbatgem.com/2017/10/15/iberiabank-corporation-ibkc-holdings-cut-by-ubs-asset-management-americas-inc.html.
IBKC has been the topic of several recent analyst reports. Zacks Investment Research upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Thursday, September 28th. ValuEngine upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Stephens set a $95.00 price objective on IBERIABANK Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC upgraded IBERIABANK Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $94.00 in a report on Monday, October 9th. Finally, BidaskClub upgraded IBERIABANK Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $90.82.
IBERIABANK Corporation (IBKC) opened at 81.40 on Friday. IBERIABANK Corporation has a 1-year low of $62.66 and a 1-year high of $91.10. The stock has a market cap of $4.37 billion, a PE ratio of 19.83 and a beta of 1.32. The firm’s 50-day moving average price is $78.13 and its 200 day moving average price is $79.20.
IBERIABANK Corporation (NASDAQ:IBKC) last released its quarterly earnings results on Thursday, July 20th. The bank reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.02). The business had revenue of $239.61 million for the quarter, compared to analyst estimates of $236.73 million. IBERIABANK Corporation had a return on equity of 6.86% and a net margin of 20.08%. Equities research analysts expect that IBERIABANK Corporation will post $4.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from IBERIABANK Corporation’s previous quarterly dividend of $0.36. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 36.01%.
IBERIABANK Corporation 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.
Receive News & Stock Ratings for IBERIABANK Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IBERIABANK Corporation and related stocks with our FREE daily email newsletter.