IBERIABANK Corporation (IBKC) Shares Bought by Context BH Capital Management LP
Context BH Capital Management LP increased its position in IBERIABANK Corporation (NASDAQ:IBKC) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,389 shares of the bank’s stock after buying an additional 7,433 shares during the period. IBERIABANK Corporation accounts for about 2.2% of Context BH Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Context BH Capital Management LP owned about 0.15% of IBERIABANK Corporation worth $6,604,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of IBERIABANK Corporation by 1.3% in the second 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 in the last quarter. State Street Corp lifted its position in shares of IBERIABANK Corporation by 20.2% in the second quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock worth $208,292,000 after buying an additional 428,968 shares in the last quarter. Northern Trust Corp lifted its position in shares of IBERIABANK Corporation by 18.0% in the second quarter. Northern Trust Corp now owns 1,104,662 shares of the bank’s stock worth $90,030,000 after buying an additional 168,174 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of IBERIABANK Corporation by 36.7% in the third quarter. Victory Capital Management Inc. now owns 856,845 shares of the bank’s stock worth $70,390,000 after buying an additional 229,900 shares in the last quarter. Finally, FMR LLC lifted its position in shares of IBERIABANK Corporation by 25.9% in the second quarter. FMR LLC now owns 724,652 shares of the bank’s stock worth $59,059,000 after buying an additional 148,952 shares in the last quarter. Institutional investors own 80.60% of the company’s stock.
A number of equities research analysts recently commented on IBKC shares. BidaskClub downgraded IBERIABANK Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Stephens set a $95.00 target price on IBERIABANK Corporation and gave the stock a “buy” rating in a research report on Saturday, July 22nd. JMP Securities boosted their target price on IBERIABANK Corporation from $94.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded IBERIABANK Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies raised IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and set a $89.00 price objective on the stock in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. IBERIABANK Corporation presently has an average rating of “Buy” and a consensus target price of $89.27.
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IBERIABANK Corporation (IBKC) traded up $0.05 on Monday, hitting $70.70. The stock had a trading volume of 285,900 shares, compared to its average volume of 440,111. The company has a market capitalization of $3,808.62, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.06 and a beta of 1.37. IBERIABANK Corporation has a 1 year low of $69.60 and a 1 year high of $91.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.90 and a current ratio of 0.91.
IBERIABANK Corporation (NASDAQ:IBKC) last released its earnings results on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The business had revenue of $270.19 million for the quarter, compared to the consensus estimate of $276.02 million. IBERIABANK Corporation had a net margin of 17.14% and a return on equity of 6.57%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. sell-side analysts expect that IBERIABANK Corporation will post 4.3 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were paid a dividend of $0.37 per share. This is a boost from IBERIABANK Corporation’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.09%. IBERIABANK Corporation’s dividend payout ratio is currently 42.05%.
In other news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $78.18, for a total transaction of $390,900.00. Following the transaction, 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 this link. Corporate insiders own 2.52% 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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