Stifel Financial Corp Purchases 128,053 Shares of IBERIABANK Corp (IBKC)

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.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). IBERIABANK had a net margin of 17.14% and a return on equity of 6.57%. The firm had revenue of $270.19 million for the quarter, compared to analysts’ expectations of $276.02 million. During the same period in the prior year, the company posted $1.08 earnings per share. IBERIABANK’s quarterly revenue was up 21.0% compared to the same quarter last year. equities research analysts anticipate that IBERIABANK Corp will post 4.27 earnings per share for the current fiscal year.

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 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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Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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