IBERIABANK Corp (IBKC) Position Boosted by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC raised its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 41.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,474 shares of the bank’s stock after buying an additional 40,276 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.25% of IBERIABANK worth $11,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew 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 buying an additional 468,347 shares in the last quarter. Millennium Management LLC grew 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 buying an additional 458,810 shares in the last quarter. FMR LLC grew 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 buying an additional 443,127 shares in the last quarter. Victory Capital Management Inc. grew 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 buying an additional 24,478 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew 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 buying an additional 7,873 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

IBKC opened at $75.88 on Friday. IBERIABANK Corp has a 12-month low of $68.55 and a 12-month high of $87.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $4.25 billion, a PE ratio of 12.34, a PEG ratio of 1.44 and a beta of 1.36.

IBERIABANK (NASDAQ:IBKC) last posted its quarterly earnings data on Friday, October 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. IBERIABANK had a return on equity of 9.44% and a net margin of 18.32%. The firm had revenue of $312.30 million during the quarter, compared to analysts’ expectations of $311.77 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts expect that IBERIABANK Corp will post 6.58 EPS for the current 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 issued a $0.41 dividend. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, December 28th. IBERIABANK’s dividend payout ratio is presently 34.90%.

Several equities analysts recently commented on the company. BidaskClub upgraded IBERIABANK from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research cut IBERIABANK from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens set a $91.00 target price on IBERIABANK and gave the stock a “hold” rating in a research report on Friday, October 19th. Finally, ValuEngine cut IBERIABANK from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. IBERIABANK currently has an average rating of “Hold” and a consensus price target of $92.33.

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.

Further Reading: Call Option

Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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