Hodges Capital Management Inc. purchased a new stake in shares of IBERIABANK Corp (NASDAQ:IBKC) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the bank’s stock, valued at approximately $215,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. boosted its position in shares of IBERIABANK by 131.9% during the fourth quarter. Fox Run Management L.L.C. now owns 6,593 shares of the bank’s stock valued at $424,000 after purchasing an additional 3,750 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in IBERIABANK by 14.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 432,256 shares of the bank’s stock worth $27,785,000 after acquiring an additional 54,133 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in IBERIABANK by 32.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,798 shares of the bank’s stock worth $1,208,000 after acquiring an additional 4,552 shares in the last quarter. Virtu Financial LLC bought a new stake in IBERIABANK in the fourth quarter worth $201,000. Finally, Citigroup Inc. boosted its holdings in IBERIABANK by 1.4% in the fourth quarter. Citigroup Inc. now owns 863,812 shares of the bank’s stock worth $55,527,000 after acquiring an additional 12,148 shares in the last quarter. Institutional investors own 87.31% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research downgraded IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine raised IBERIABANK from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James set a $85.00 target price on IBERIABANK and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, BidaskClub downgraded IBERIABANK from a “sell” rating to a “strong sell” rating in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $87.60.
IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, January 25th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The firm had revenue of $265.99 million for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.33 earnings per share. On average, research analysts predict that IBERIABANK Corp will post 7.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.43 per share. This is an increase from IBERIABANK’s previous quarterly dividend of $0.41. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, March 28th. IBERIABANK’s dividend payout ratio is presently 25.71%.
In other IBERIABANK news, Director Ricky E. Maples purchased 1,000 shares of the stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $75.25 per share, with a total value of $75,250.00. Following the completion of the acquisition, the director now directly owns 7,100 shares in the company, valued at approximately $534,275. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ricky E. Maples purchased 2,500 shares of the stock in a transaction dated Tuesday, January 29th. The shares were acquired at an average cost of $75.60 per share, for a total transaction of $189,000.00. Following the completion of the acquisition, the director now owns 6,100 shares of the company’s stock, valued at $461,160. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 8,500 shares of company stock worth $645,450 and have sold 21,502 shares worth $1,609,475. Corporate insiders own 2.65% of the company’s stock.
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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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