IBERIABANK Corp (IBKC) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,035 shares of the bank’s stock after selling 3,658 shares during the quarter. Raymond James & Associates’ holdings in IBERIABANK were worth $966,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of IBERIABANK during the fourth quarter valued at about $53,000. Toronto Dominion Bank acquired a new position in shares of IBERIABANK in the fourth quarter worth approximately $65,000. IFP Advisors Inc lifted its stake in shares of IBERIABANK by 25.8% in the fourth quarter. IFP Advisors Inc now owns 1,851 shares of the bank’s stock worth $119,000 after acquiring an additional 380 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of IBERIABANK by 20.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock worth $122,000 after acquiring an additional 319 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of IBERIABANK in the third quarter worth approximately $153,000. 86.72% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on IBKC shares. BidaskClub raised IBERIABANK from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 30th. Stephens lifted their price objective on IBERIABANK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Monday, January 28th. Zacks Investment Research lowered IBERIABANK from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. Finally, ValuEngine lowered IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $88.25.

In other news, Director Angus R. Cooper II acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $76.24 per share, for a total transaction of $381,200.00. Following the completion of the acquisition, the director now directly owns 51,800 shares in the company, valued at approximately $3,949,232. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Michael J. Brown sold 8,951 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $74.98, for a total value of $671,145.98. Following the sale, the insider now owns 121,530 shares of the company’s stock, valued at approximately $9,112,319.40. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 8,500 shares of company stock worth $645,450 and sold 21,502 shares worth $1,609,475. 2.53% of the stock is owned by insiders.

IBERIABANK stock opened at $73.34 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.91 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.25 and a beta of 1.52. IBERIABANK Corp has a one year low of $60.82 and a one year high of $87.50.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, January 25th. The bank reported $1.86 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.08. The company had revenue of $265.99 million for the quarter, compared to analyst estimates of $308.20 million. IBERIABANK had a return on equity of 9.98% and a net margin of 26.94%. During the same period in the previous year, the firm earned $1.33 earnings per share. Equities analysts predict that IBERIABANK Corp will post 7.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.43 dividend. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, March 28th. IBERIABANK’s payout ratio is currently 25.71%.

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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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