Nuveen Asset Management LLC raised its holdings in shares of Iberiabank (NASDAQ:IBKC) by 9.0% in the 1st quarter, HoldingsChannel reports. The fund owned 625,590 shares of the bank’s stock after buying an additional 51,659 shares during the quarter. Nuveen Asset Management LLC’s holdings in Iberiabank were worth $48,796,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in IBKC. Swiss National Bank boosted its position in shares of Iberiabank by 7.7% in the 4th quarter. Swiss National Bank now owns 91,423 shares of the bank’s stock valued at $7,085,000 after purchasing an additional 6,500 shares during the period. Suntrust Banks Inc. acquired a new stake in shares of Iberiabank in the 4th quarter valued at about $487,000. Sun Life Financial INC acquired a new stake in shares of Iberiabank in the 4th quarter valued at about $791,000. State of Wisconsin Investment Board boosted its position in shares of Iberiabank by 6.6% in the 4th quarter. State of Wisconsin Investment Board now owns 130,100 shares of the bank’s stock valued at $10,083,000 after purchasing an additional 8,100 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Iberiabank by 7.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 294,566 shares of the bank’s stock valued at $22,829,000 after purchasing an additional 19,880 shares during the period. 81.22% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on IBKC. Zacks Investment Research cut Iberiabank from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BidaskClub cut Iberiabank from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Jaffray Companies set a $92.00 target price on Iberiabank and gave the company a “buy” rating in a research report on Monday, April 23rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Iberiabank has a consensus rating of “Buy” and an average price target of $87.75.
In other Iberiabank news, Director Ernest P. Breaux, Jr. sold 1,200 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $82.05, for a total transaction of $98,460.00. Following the completion of the sale, the director now directly owns 27,647 shares of the company’s stock, valued at approximately $2,268,436.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.53% of the stock is currently owned by company insiders.
Iberiabank opened at $83.35 on Thursday, MarketBeat reports. Iberiabank has a twelve month low of $68.55 and a twelve month high of $87.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.61 and a beta of 1.42.
Iberiabank (NASDAQ:IBKC) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.05). Iberiabank had a return on equity of 7.39% and a net margin of 12.96%. The company had revenue of $277.50 million for the quarter, compared to analyst estimates of $285.71 million. During the same period in the previous year, the business posted $1.02 earnings per share. The firm’s revenue was up 27.4% compared to the same quarter last year. research analysts forecast that Iberiabank will post 6.31 EPS for the current year.
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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