Nationwide Fund Advisors Has $12.22 Million Stake in IBERIABANK Corp (IBKC)
Nationwide Fund Advisors decreased its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,711 shares of the bank’s stock after selling 1,489 shares during the quarter. Nationwide Fund Advisors owned about 0.28% of IBERIABANK worth $12,217,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of IBERIABANK by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,141,740 shares of the bank’s stock worth $337,551,000 after buying an additional 52,383 shares during the period. State Street Corp grew its holdings in IBERIABANK by 20.2% during the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after purchasing an additional 428,968 shares during the period. Northern Trust Corp grew its holdings in IBERIABANK by 18.0% during the second quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock valued at $90,030,000 after purchasing an additional 168,174 shares during the period. FMR LLC grew its holdings in IBERIABANK by 25.9% during the second quarter. FMR LLC now owns 724,652 shares of the bank’s stock valued at $59,059,000 after purchasing an additional 148,952 shares during the period. Finally, Deprince Race & Zollo Inc. grew its holdings in IBERIABANK by 15.7% during the second quarter. Deprince Race & Zollo Inc. now owns 653,846 shares of the bank’s stock valued at $53,288,000 after purchasing an additional 88,814 shares during the period. Institutional investors own 80.42% of the company’s stock.
IBERIABANK Corp (IBKC) opened at $78.20 on Monday. The firm has a market cap of $4,210.00, a P/E ratio of 18.27, a PEG ratio of 2.29 and a beta of 1.37. IBERIABANK Corp has a 1-year low of $68.55 and a 1-year high of $91.10. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31.
A number of brokerages recently issued reports on IBKC. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Thursday, September 28th. Robert W. Baird cut shares of IBERIABANK from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $97.00 to $78.00 in a report on Monday, October 23rd. SunTrust Banks upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, November 28th. Piper Jaffray Companies restated an “overweight” rating and set a $89.00 price objective on shares of IBERIABANK in a report on Thursday, October 5th. Finally, Jefferies Group upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $94.00 in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $89.27.
In other news, insider John R. Davis sold 3,263 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the transaction, the insider now owns 57,886 shares in the company, valued at $4,297,456.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Fenstermaker purchased 2,500 shares of IBERIABANK stock in a transaction dated Friday, November 17th. The stock was bought at an average price of $71.81 per share, with a total value of $179,525.00. Following the acquisition, the director now directly owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The disclosure for this purchase can be found here. 3.17% of the stock is owned by corporate insiders.
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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