NN Investment Partners Holdings N.V. decreased its stake in IBERIABANK Corporation (NASDAQ:IBKC) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,145 shares of the company’s stock after selling 760 shares during the period. NN Investment Partners Holdings N.V.’s holdings in IBERIABANK Corporation were worth $1,101,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of IBERIABANK Corporation by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 1,199,591 shares of the company’s stock worth $80,517,000 after buying an additional 175,199 shares during the period. Channing Capital Management LLC raised its position in shares of IBERIABANK Corporation by 0.7% in the second quarter. Channing Capital Management LLC now owns 954,129 shares of the company’s stock worth $56,990,000 after buying an additional 6,478 shares during the period. BlackRock Investment Management LLC raised its position in shares of IBERIABANK Corporation by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 178,055 shares of the company’s stock worth $11,951,000 after buying an additional 994 shares during the period. Monarch Partners Asset Management LLC bought a new position in shares of IBERIABANK Corporation during the second quarter worth approximately $19,021,000. Finally, Acadian Asset Management LLC bought a new position in shares of IBERIABANK Corporation during the third quarter worth approximately $3,292,000. Institutional investors own 75.07% of the company’s stock.
Shares of IBERIABANK Corporation (NASDAQ:IBKC) traded up 1.34% during trading on Wednesday, reaching $83.35. 64,521 shares of the company traded hands. The stock has a market capitalization of $3.42 billion, a PE ratio of 19.20 and a beta of 1.23. IBERIABANK Corporation has a 12-month low of $43.08 and a 12-month high of $91.10. The firm’s 50-day moving average is $84.57 and its 200-day moving average is $72.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Saturday, December 31st will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, December 28th. This represents a $1.44 dividend on an annualized basis and a yield of 1.75%. IBERIABANK Corporation’s dividend payout ratio (DPR) is presently 33.18%.
IBKC has been the topic of a number of research reports. Iberia Capital lowered shares of IBERIABANK Corporation from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $78.00 to $72.00 in a research note on Thursday, October 27th. Sandler O’Neill raised shares of IBERIABANK Corporation from a “hold” rating to a “buy” rating in a report on Friday, December 2nd. FBR & Co set a $73.00 price objective on shares of IBERIABANK Corporation and gave the company a “buy” rating in a report on Sunday, October 30th. Piper Jaffray Companies raised shares of IBERIABANK Corporation from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $78.00 in a report on Friday, October 7th. Finally, Raymond James Financial, Inc. downgraded shares of IBERIABANK Corporation from a “strong-buy” rating to an “outperform” rating in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. IBERIABANK Corporation has an average rating of “Buy” and an average price target of $65.90.
In other news, insider John R. Davis sold 15,000 shares of IBERIABANK Corporation stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $74.34, for a total value of $1,115,100.00. Following the completion of the transaction, the insider now owns 66,168 shares in the company, valued at $4,918,929.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jefferson G. Parker sold 5,000 shares of IBERIABANK Corporation stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $86.52, for a total transaction of $432,600.00. Following the completion of the transaction, the insider now owns 14,644 shares of the company’s stock, valued at approximately $1,266,998.88. The disclosure for this sale can be found here. Insiders have sold 59,891 shares of company stock valued at $4,665,811 in the last 90 days. 3.17% of the stock is currently owned by corporate insiders.
About IBERIABANK Corporation
IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK, a Louisiana banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency; IBERIA Capital Partners, LLC, a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc, which provides wealth management and trust services to high net worth individuals, pension funds, corporations and trusts; 840 Denning, LLC, which invests in a commercial rental property, and IBERIA CDE LLC., which invests in purchased tax credits.
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