Stevens Capital Management LP Sells 1,441 Shares of IBERIABANK Corp (NASDAQ:IBKC)

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Stevens Capital Management LP lowered its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,510 shares of the bank’s stock after selling 1,441 shares during the period. Stevens Capital Management LP owned approximately 0.05% of IBERIABANK worth $2,238,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in IBERIABANK during the second quarter valued at about $64,000. Advisor Group Inc. increased its position in IBERIABANK by 7.0% in the 2nd quarter. Advisor Group Inc. now owns 2,754 shares of the bank’s stock worth $209,000 after buying an additional 180 shares during the period. Hodges Capital Management Inc. bought a new position in IBERIABANK in the 1st quarter worth approximately $215,000. Starr International Co. Inc. bought a new position in IBERIABANK in the 1st quarter worth approximately $231,000. Finally, Cerebellum GP LLC grew its holdings in shares of IBERIABANK by 16.4% during the 1st quarter. Cerebellum GP LLC now owns 4,622 shares of the bank’s stock worth $331,000 after purchasing an additional 652 shares in the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.

In other IBERIABANK news, Vice Chairman Jefferson G. Parker sold 10,000 shares of IBERIABANK stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $75.87, for a total transaction of $758,700.00. Following the completion of the transaction, the insider now owns 38,529 shares in the company, valued at approximately $2,923,195.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth A. Ardoin sold 4,300 shares of IBERIABANK stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $77.96, for a total value of $335,228.00. Following the transaction, the executive vice president now owns 39,435 shares of the company’s stock, valued at approximately $3,074,352.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,862 shares of company stock valued at $2,669,593. Corporate insiders own 2.65% of the company’s stock.

IBERIABANK stock traded down $0.10 during mid-day trading on Thursday, reaching $69.51. 9,805 shares of the company were exchanged, compared to its average volume of 299,576. The firm’s fifty day simple moving average is $75.21. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.24 and a beta of 1.49. IBERIABANK Corp has a 12 month low of $60.82 and a 12 month high of $87.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34.

IBERIABANK (NASDAQ:IBKC) last released its quarterly earnings data on Friday, July 19th. The bank reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.05. IBERIABANK had a return on equity of 10.33% and a net margin of 29.38%. The company had revenue of $315.18 million for the quarter, compared to the consensus estimate of $313.34 million. During the same quarter last year, the business posted $1.71 EPS. IBERIABANK’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts expect that IBERIABANK Corp will post 7.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.45 dividend. The ex-dividend date is Friday, September 27th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.59%. IBERIABANK’s dividend payout ratio (DPR) is 25.71%.

Several analysts recently commented on the company. BidaskClub raised IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 2nd. Iberia Capital restated a “sell” rating on shares of IBERIABANK in a research report on Tuesday, July 23rd. SunTrust Banks dropped their target price on IBERIABANK to $86.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Stephens set a $89.00 price objective on IBERIABANK and gave the company a “buy” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded IBERIABANK from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $86.00.

IBERIABANK Profile

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

See Also: Fundamental Analysis

Want to see what other hedge funds are holding IBKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IBERIABANK Corp (NASDAQ:IBKC).

Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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