IBERIABANK Corp (NASDAQ:IBKC) Sees Large Growth in Short Interest

IBERIABANK Corp (NASDAQ:IBKC) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 794,600 shares, an increase of 27.6% from the July 31st total of 622,800 shares. Based on an average daily volume of 287,600 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.5% of the company’s shares are sold short.

Several research firms have recently weighed in on IBKC. Zacks Investment Research raised IBERIABANK from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Stephens set a $89.00 price objective on IBERIABANK and gave the company a “buy” rating in a research report on Friday, July 19th. BidaskClub downgraded IBERIABANK from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. SunTrust Banks cut their price objective on IBERIABANK to $86.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, ValuEngine raised IBERIABANK from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. IBERIABANK currently has a consensus rating of “Hold” and an average target price of $86.00.

IBERIABANK stock traded down $0.51 during mid-day trading on Thursday, hitting $75.62. The company’s stock had a trading volume of 337,447 shares, compared to its average volume of 331,145. The company has a 50 day moving average of $71.66 and a 200-day moving average of $74.73. The stock has a market cap of $4.01 billion, a PE ratio of 11.30, a P/E/G ratio of 1.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 0.96. IBERIABANK has a one year low of $60.82 and a one year high of $86.20.



IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings data on Friday, July 19th. The bank reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.05. The company had revenue of $315.18 million for the quarter, compared to the consensus estimate of $313.34 million. IBERIABANK had a return on equity of 10.33% and a net margin of 29.38%. IBERIABANK’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 EPS. On average, equities research analysts forecast that IBERIABANK will post 7.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from IBERIABANK’s previous quarterly dividend of $0.43. IBERIABANK’s dividend payout ratio is 25.71%.

In other news, CEO Daryl G. Byrd sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.44, for a total transaction of $422,640.00. Following the transaction, the chief executive officer now owns 254,281 shares of the company’s stock, valued at approximately $17,911,553.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth A. Ardoin sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $77.96, for a total value of $335,228.00. Following the transaction, the executive vice president now directly owns 39,435 shares in the company, valued at approximately $3,074,352.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,050 shares of company stock worth $2,584,943. Corporate insiders own 2.65% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors grew its position in shares of IBERIABANK by 43.8% during the 2nd quarter. Captrust Financial Advisors now owns 509 shares of the bank’s stock worth $39,000 after buying an additional 155 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of IBERIABANK by 38.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 726 shares of the bank’s stock worth $55,000 after buying an additional 203 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of IBERIABANK during the 2nd quarter worth $64,000. Advisor Group Inc. grew its position in shares of IBERIABANK by 7.0% during the 2nd quarter. Advisor Group Inc. now owns 2,754 shares of the bank’s stock worth $209,000 after buying an additional 180 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of IBERIABANK during the 2nd quarter worth $237,000. 85.84% of the stock is currently owned by institutional investors.

About IBERIABANK

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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