Stifel Financial Corp boosted its stake in IBERIABANK Corp (NASDAQ:IBKC) by 3,718.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,497 shares of the bank’s stock after buying an additional 128,053 shares during the period. Stifel Financial Corp owned 0.24% of IBERIABANK worth $10,833,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in IBKC. State Street Corp grew its position in IBERIABANK by 20.2% in the 2nd quarter. State Street Corp now owns 2,555,707 shares of the bank’s stock valued at $208,292,000 after buying an additional 428,968 shares in the last quarter. Teachers Advisors LLC grew its position in IBERIABANK by 323.3% in the 2nd quarter. Teachers Advisors LLC now owns 363,805 shares of the bank’s stock valued at $29,650,000 after buying an additional 277,851 shares in the last quarter. Victory Capital Management Inc. grew its position in IBERIABANK by 36.7% in the 3rd quarter. Victory Capital Management Inc. now owns 856,845 shares of the bank’s stock valued at $70,390,000 after buying an additional 229,900 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in IBERIABANK in the 2nd quarter valued at about $16,352,000. Finally, Monarch Partners Asset Management LLC bought a new position in IBERIABANK in the 3rd quarter valued at about $14,888,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.
Shares of IBERIABANK Corp (NASDAQ:IBKC) opened at $77.60 on Monday. IBERIABANK Corp has a 1-year low of $68.55 and a 1-year high of $90.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market cap of $4,180.32, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.37.
In other IBERIABANK news, Director Ernest P. Breaux, Jr. sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $78.18, for a total transaction of $390,900.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available through this link. Also, insider John R. Davis sold 3,263 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $74.24, for a total transaction of $242,245.12. Following the sale, the insider now directly owns 57,886 shares of the company’s stock, valued at $4,297,456.64. The disclosure for this sale can be found here. 2.52% of the stock is currently owned by corporate insiders.
IBKC has been the subject of a number of research analyst reports. BidaskClub downgraded shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Piper Jaffray Companies raised shares of IBERIABANK from a “neutral” rating to an “overweight” rating and set a $89.00 price target for the company in a report on Tuesday, August 15th. ValuEngine raised shares of IBERIABANK from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Stephens downgraded shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. Finally, Zacks Investment Research downgraded shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. IBERIABANK presently has a consensus rating of “Buy” and a consensus price target of $89.27.
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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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