Segall Bryant & Hamill LLC Acquires 228,450 Shares of IBERIABANK Corp (IBKC)
Segall Bryant & Hamill LLC grew its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 88.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 485,711 shares of the bank’s stock after acquiring an additional 228,450 shares during the period. Segall Bryant & Hamill LLC owned about 0.86% of IBERIABANK worth $36,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in IBERIABANK by 1.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,789,157 shares of the bank’s stock worth $139,555,000 after buying an additional 29,296 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in shares of IBERIABANK by 0.9% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,797,055 shares of the bank’s stock valued at $218,170,000 after purchasing an additional 25,531 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of IBERIABANK during the 1st quarter valued at about $694,000. BNP Paribas Arbitrage SA boosted its holdings in shares of IBERIABANK by 55.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 72,927 shares of the bank’s stock valued at $5,688,000 after purchasing an additional 26,045 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of IBERIABANK by 9.0% during the 1st quarter. Nuveen Asset Management LLC now owns 625,590 shares of the bank’s stock valued at $48,796,000 after purchasing an additional 51,659 shares during the last quarter. 81.86% of the stock is owned by institutional investors.
Shares of NASDAQ IBKC traded up $0.20 during mid-day trading on Friday, hitting $85.90. 257 shares of the company’s stock traded hands, compared to its average volume of 389,782. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.62 and a beta of 1.46. IBERIABANK Corp has a 1 year low of $68.55 and a 1 year high of $87.55.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.82%. This is a boost from IBERIABANK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, September 27th. IBERIABANK’s dividend payout ratio is currently 34.00%.
IBKC has been the subject of several research reports. BidaskClub downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Zacks Investment Research raised shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, July 25th. Piper Jaffray Companies set a $92.00 price objective on shares of IBERIABANK and gave the company a “buy” rating in a report on Monday, April 23rd. Finally, ValuEngine downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. IBERIABANK has a consensus rating of “Buy” and a consensus target price of $86.83.
In other news, Director Ernest P. Breaux, Jr. sold 1,200 shares of the company’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $82.05, for a total transaction of $98,460.00. Following the sale, the director now directly owns 27,647 shares in the company, valued at approximately $2,268,436.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.53% of the stock is currently owned by corporate insiders.
IBERIABANK Company 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.
Further Reading: Market Capitalization – What it Means for Investors
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