Mesirow Financial Investment Management Equity Management reduced its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,216 shares of the bank’s stock after selling 3,815 shares during the period. IBERIABANK accounts for about 1.3% of Mesirow Financial Investment Management Equity Management’s investment portfolio, making the stock its 26th largest position. Mesirow Financial Investment Management Equity Management’s holdings in IBERIABANK were worth $14,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in shares of IBERIABANK by 2.5% during the 3rd quarter. First Trust Advisors LP now owns 91,724 shares of the bank’s stock worth $7,462,000 after acquiring an additional 2,252 shares during the period. Simplex Trading LLC purchased a new position in shares of IBERIABANK during the 3rd quarter worth about $105,000. Summit Financial Wealth Advisors LLC lifted its holdings in shares of IBERIABANK by 31.0% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 12,331 shares of the bank’s stock worth $957,000 after acquiring an additional 2,917 shares during the period. Stokes & Hubbell Capital Management LLC purchased a new position in shares of IBERIABANK during the 3rd quarter worth about $205,000. Finally, Bank of Montreal Can lifted its holdings in shares of IBERIABANK by 71.7% during the 3rd quarter. Bank of Montreal Can now owns 4,680 shares of the bank’s stock worth $381,000 after acquiring an additional 1,955 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.
NASDAQ IBKC opened at $73.84 on Tuesday. IBERIABANK Corp has a one year low of $68.55 and a one year high of $87.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $4.01 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.36 and a beta of 1.44.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Monday, December 31st will be issued a $0.41 dividend. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 28th. This represents a $1.64 annualized dividend and a yield of 2.22%. IBERIABANK’s dividend payout ratio (DPR) is presently 34.90%.
Several research analysts have recently weighed in on IBKC shares. BidaskClub lowered shares of IBERIABANK from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. ValuEngine upgraded shares of IBERIABANK from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Wednesday, July 25th. Finally, Stephens set a $91.00 price target on shares of IBERIABANK and gave the company a “hold” rating in a report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.33.
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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