Thrivent Financial for Lutherans grew its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,317 shares of the bank’s stock after purchasing an additional 7,072 shares during the period. Thrivent Financial for Lutherans owned about 0.73% of IBERIABANK worth $26,262,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of IBKC. Virginia Retirement Systems ET AL increased its position in IBERIABANK by 2.2% in the 4th quarter. Virginia Retirement Systems ET AL now owns 14,100 shares of the bank’s stock worth $906,000 after purchasing an additional 300 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of IBERIABANK by 20.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,892 shares of the bank’s stock valued at $122,000 after acquiring an additional 319 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of IBERIABANK by 9.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,829 shares of the bank’s stock valued at $246,000 after acquiring an additional 343 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of IBERIABANK by 25.8% during the 4th quarter. IFP Advisors Inc now owns 1,851 shares of the bank’s stock valued at $119,000 after acquiring an additional 380 shares during the last quarter. Finally, Pitcairn Co. increased its holdings in shares of IBERIABANK by 9.4% during the 4th quarter. Pitcairn Co. now owns 4,447 shares of the bank’s stock valued at $285,000 after acquiring an additional 382 shares during the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:IBKC traded down $1.17 during mid-day trading on Monday, hitting $75.63. 199,498 shares of the company’s stock traded hands, compared to its average volume of 406,538. IBERIABANK Corp has a 12 month low of $60.82 and a 12 month high of $87.50. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.31 and a beta of 1.51. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from IBERIABANK’s previous quarterly dividend of $0.41. IBERIABANK’s dividend payout ratio (DPR) is currently 25.71%.
IBKC has been the topic of a number of analyst reports. BidaskClub raised IBERIABANK from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 30th. Zacks Investment Research lowered IBERIABANK from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Stephens increased their price objective on IBERIABANK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Monday, January 28th. Finally, ValuEngine downgraded 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, one has issued a hold rating and four have issued a buy rating to the company. IBERIABANK currently has a consensus rating of “Hold” and a consensus price target of $87.60.
In related news, Director Angus R. Cooper II bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $76.24 per share, for a total transaction of $381,200.00. Following the transaction, the director now directly owns 51,800 shares of the company’s stock, valued at $3,949,232. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Scott Price sold 551 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $75.17, for a total value of $41,418.67. Following the transaction, the insider now owns 6,654 shares of the company’s stock, valued at approximately $500,181.18. The disclosure for this sale can be found here. In the last quarter, insiders acquired 8,500 shares of company stock valued at $645,450 and sold 21,502 shares valued at $1,609,475. 2.65% of the stock is currently owned by company insiders.
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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