Todays Report: The BlackRock Advisors LLC reaches $10,557,000 position of Iberiabank Corp. (IBKC)

The BlackRock Advisors LLC reaches $10,557,000 position  of Iberiabank Corp. (IBKC)

BlackRock Advisors LLC increased its stake in shares of Iberiabank Corp. (NASDAQ:IBKC) by 55.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,747 shares of the company’s stock after buying an additional 63,237 shares during the period. BlackRock Advisors LLC owned about 0.43% of Iberiabank Corp. worth $10,557,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Iberiabank Corp. by 77.4% in the second quarter. Victory Capital Management Inc. now owns 1,783 shares of the company’s stock valued at $106,000 after buying an additional 778 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Iberiabank Corp. by 7,000.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $123,000 after buying an additional 2,030 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Iberiabank Corp. during the second quarter valued at approximately $179,000. Bbva Compass Bancshares Inc. acquired a new position in shares of Iberiabank Corp. during the second quarter valued at approximately $206,000. Finally, IFP Advisors Inc increased its position in shares of Iberiabank Corp. by 0.4% in the first quarter. IFP Advisors Inc now owns 4,300 shares of the company’s stock valued at $220,000 after buying an additional 19 shares during the last quarter. Institutional investors own 81.47% of the company’s stock.

Shares of Iberiabank Corp. (NASDAQ:IBKC) opened at 70.72 on Friday. Iberiabank Corp. has a 52 week low of $42.20 and a 52 week high of $70.80. The firm’s 50-day moving average price is $67.81 and its 200 day moving average price is $61.24. The company has a market capitalization of $2.90 billion, a PE ratio of 16.46 and a beta of 1.10.

Iberiabank Corp. (NASDAQ:IBKC) last posted its earnings results on Wednesday, July 27th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. Iberiabank Corp. had a net margin of 19.32% and a return on equity of 7.40%. The firm earned $227.70 million during the quarter, compared to the consensus estimate of $224.83 million. During the same quarter last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts predict that Iberiabank Corp. will post $4.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, September 28th. This is an increase from Iberiabank Corp.’s previous quarterly dividend of $0.34. Iberiabank Corp.’s dividend payout ratio (DPR) is 33.57%.

Several brokerages have recently commented on IBKC. FBR & Co boosted their price objective on Iberiabank Corp. from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods boosted their price objective on Iberiabank Corp. from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Iberia Capital upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 price objective on the stock in a research report on Friday. Zacks Investment Research downgraded Iberiabank Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, Piper Jaffray Cos. upgraded Iberiabank Corp. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $78.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $66.50.

In related news, insider John R. Davis sold 8,560 shares of Iberiabank Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $68.02, for a total value of $582,251.20. Following the completion of the sale, the insider now owns 57,264 shares in the company, valued at approximately $3,895,097.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony J. Restel sold 3,342 shares of Iberiabank Corp. stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $69.22, for a total transaction of $231,333.24. Following the completion of the sale, the executive vice president now owns 36,405 shares of the company’s stock, valued at approximately $2,519,954.10. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by corporate insiders.

About Iberiabank Corp.

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