Russell Investments Group Ltd. Trims Holdings in IBERIABANK Corp (IBKC)

Russell Investments Group Ltd. trimmed its position in IBERIABANK Corp (NASDAQ:IBKC) by 21.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,607 shares of the bank’s stock after selling 63,135 shares during the quarter. Russell Investments Group Ltd.’s holdings in IBERIABANK were worth $18,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in IBERIABANK by 13.4% during the second quarter. BlackRock Inc. now owns 3,951,506 shares of the bank’s stock worth $299,525,000 after acquiring an additional 468,347 shares during the last quarter. Millennium Management LLC raised its position in IBERIABANK by 25.2% during the second quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock worth $172,607,000 after acquiring an additional 458,810 shares during the last quarter. FMR LLC raised its position in IBERIABANK by 48.8% during the second quarter. FMR LLC now owns 1,351,625 shares of the bank’s stock worth $102,453,000 after acquiring an additional 443,127 shares during the last quarter. Victory Capital Management Inc. raised its position in IBERIABANK by 2.2% during the second quarter. Victory Capital Management Inc. now owns 1,128,362 shares of the bank’s stock worth $85,530,000 after acquiring an additional 24,478 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in IBERIABANK by 1.1% during the second quarter. Deprince Race & Zollo Inc. now owns 721,519 shares of the bank’s stock worth $54,691,000 after acquiring an additional 7,873 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.

NASDAQ:IBKC opened at $76.82 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.30 billion, a PE ratio of 17.19, a PEG ratio of 1.46 and a beta of 1.36. IBERIABANK Corp has a 1-year low of $68.55 and a 1-year high of $87.55.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, October 19th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.06. The business had revenue of $312.30 million during the quarter, compared to analyst estimates of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.44%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 earnings per share. Research analysts anticipate that IBERIABANK Corp will post 6.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Monday, December 31st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, December 28th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s payout ratio is currently 34.90%.

A number of equities analysts have issued reports on the stock. BidaskClub cut shares of IBERIABANK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research lowered shares of IBERIABANK from a “buy” rating to a “hold” rating and set a $95.00 price objective for the company. in a research report on Friday, August 3rd. ValuEngine lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Stephens set a $91.00 price objective on shares of IBERIABANK and gave the company a “hold” rating in a research report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $87.33.

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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.

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Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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