Commerce Bank grew its position in IBERIABANK Corporation (NASDAQ:IBKC) by 1.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,015 shares of the bank’s stock after acquiring an additional 60 shares during the period. Commerce Bank’s holdings in IBERIABANK Corporation were worth $490,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of IBERIABANK Corporation by 37.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,899 shares of the bank’s stock valued at $150,000 after acquiring an additional 520 shares during the last quarter. Karp Capital Management Corp bought a new position in IBERIABANK Corporation during the 1st quarter worth $214,000. Stephens Inc. AR bought a new position in IBERIABANK Corporation during the 1st quarter worth $214,000. US Bancorp DE raised its position in IBERIABANK Corporation by 1.4% during the 1st quarter. US Bancorp DE now owns 2,851 shares of the bank’s stock worth $225,000 after purchasing an additional 38 shares during the last quarter. Finally, IFP Advisors Inc raised its position in IBERIABANK Corporation by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.
IBERIABANK Corporation (IBKC) opened at 77.45 on Friday. The firm has a market cap of $4.15 billion, a P/E ratio of 18.87 and a beta of 1.30. The firm’s 50-day moving average price is $76.83 and its 200-day moving average price is $78.99. IBERIABANK Corporation has a 1-year low of $62.66 and a 1-year high of $91.10.
IBERIABANK Corporation (NASDAQ:IBKC) last announced its earnings results on Thursday, July 20th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.02). IBERIABANK Corporation had a net margin of 20.08% and a return on equity of 6.86%. The business had revenue of $239.61 million for the quarter, compared to the consensus estimate of $236.73 million. Equities research analysts anticipate that IBERIABANK Corporation will post $4.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.37 per share. This is an increase from IBERIABANK Corporation’s previous quarterly dividend of $0.36. 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 1.91%. IBERIABANK Corporation’s dividend payout ratio (DPR) is currently 35.04%.
Several brokerages recently issued reports on IBKC. Hovde Group raised IBERIABANK Corporation from a “market perform” rating to an “outperform” rating and set a $87.00 target price for the company in a research report on Monday, June 5th. BidaskClub raised IBERIABANK Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Stephens set a $95.00 price objective on IBERIABANK Corporation and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Finally, Zacks Investment Research lowered IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.70.
In other news, insider John R. Davis sold 6,141 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.12, for a total transaction of $492,016.92. Following the sale, the insider now owns 60,553 shares in the company, valued at $4,851,506.36. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.17% of the stock is currently owned by company insiders.
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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.
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