Smith Graham & Co. Investment Advisors LP Boosts Stock Position in IBERIABANK Corp (NASDAQ:IBKC)

Smith Graham & Co. Investment Advisors LP grew its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 80,908 shares of the bank’s stock after acquiring an additional 470 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in IBERIABANK were worth $6,112,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IBKC. New York State Teachers Retirement System purchased a new stake in shares of IBERIABANK during the second quarter worth approximately $372,000. D. E. Shaw & Co. Inc. increased its position in shares of IBERIABANK by 41.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 183,441 shares of the bank’s stock worth $13,914,000 after purchasing an additional 53,863 shares in the last quarter. Invesco Ltd. increased its position in shares of IBERIABANK by 123.1% during the second quarter. Invesco Ltd. now owns 771,501 shares of the bank’s stock worth $58,518,000 after purchasing an additional 425,644 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of IBERIABANK during the second quarter worth approximately $859,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of IBERIABANK by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 501,733 shares of the bank’s stock worth $38,057,000 after purchasing an additional 3,625 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

NASDAQ:IBKC traded down $3.43 during trading hours on Friday, hitting $72.65. The company had a trading volume of 795,273 shares, compared to its average volume of 277,350. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $73.71 and a 200 day moving average of $74.76. The company has a market cap of $4.01 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.34 and a beta of 1.56. IBERIABANK Corp has a 1 year low of $60.82 and a 1 year high of $81.86.

IBERIABANK (NASDAQ:IBKC) last issued its earnings results on Friday, October 18th. The bank reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.03. The company had revenue of $313.01 million during the quarter, compared to analysts’ expectations of $312.94 million. IBERIABANK had a return on equity of 10.33% and a net margin of 29.38%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $1.74 EPS. On average, analysts forecast that IBERIABANK Corp will post 7.11 earnings per share for the current year.

Several analysts recently commented on the company. Zacks Investment Research cut IBERIABANK from a “hold” rating to a “sell” rating in a research report on Saturday, September 28th. BidaskClub upgraded IBERIABANK from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 17th. SunTrust Banks dropped their price target on IBERIABANK to $86.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Stephens set a $89.00 price target on IBERIABANK and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine cut IBERIABANK from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $86.00.

In other IBERIABANK news, CEO Daryl G. Byrd sold 13,750 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $77.70, for a total value of $1,068,375.00. Following the completion of the sale, the chief executive officer now directly owns 274,031 shares in the company, valued at approximately $21,292,208.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Jefferson G. Parker sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $75.87, for a total value of $758,700.00. Following the completion of the sale, the insider now owns 38,529 shares of the company’s stock, valued at $2,923,195.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,050 shares of company stock valued at $2,584,943. 2.65% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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