Mackenzie Financial Corp Increases Position in IBERIABANK Corp (NASDAQ:IBKC)

Mackenzie Financial Corp boosted its holdings in IBERIABANK Corp (NASDAQ:IBKC) by 85.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 294,720 shares of the bank’s stock after purchasing an additional 135,700 shares during the quarter. Mackenzie Financial Corp owned about 0.55% of IBERIABANK worth $24,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBKC. Aperio Group LLC grew its position in IBERIABANK by 33.4% in the 2nd quarter. Aperio Group LLC now owns 3,611 shares of the bank’s stock valued at $294,000 after purchasing an additional 905 shares during the period. US Bancorp DE grew its position in IBERIABANK by 45.4% in the 2nd quarter. US Bancorp DE now owns 4,146 shares of the bank’s stock valued at $338,000 after purchasing an additional 1,295 shares during the period. Sei Investments Co. grew its position in IBERIABANK by 1,910.3% in the 2nd quarter. Sei Investments Co. now owns 79,911 shares of the bank’s stock valued at $6,513,000 after purchasing an additional 75,936 shares during the period. IFP Advisors Inc boosted its holdings in IBERIABANK by 0.7% during the 2nd quarter. IFP Advisors Inc now owns 2,815 shares of the bank’s stock worth $229,000 after acquiring an additional 20 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in IBERIABANK by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 252,895 shares of the bank’s stock worth $20,611,000 after acquiring an additional 11,888 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

In related news, insider John R. Davis sold 3,263 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the sale, the insider now directly owns 57,886 shares in the company, valued at approximately $4,297,456.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William H. Fenstermaker acquired 2,500 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was purchased at an average price of $71.81 per share, for a total transaction of $179,525.00. Following the completion of the purchase, the director now directly owns 43,242 shares in the company, valued at approximately $3,105,208.02. The disclosure for this purchase can be found here. 3.17% of the stock is currently owned by insiders.

A number of research firms have issued reports on IBKC. Zacks Investment Research raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Jefferies Group raised shares of IBERIABANK from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $94.00 in a report on Monday, October 9th. ValuEngine downgraded shares of IBERIABANK from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $89.00 price objective on shares of IBERIABANK in a report on Thursday, October 5th. Finally, Stephens downgraded shares of IBERIABANK from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. IBERIABANK has an average rating of “Buy” and an average target price of $89.27.

Shares of IBERIABANK Corp (IBKC) traded down $0.45 during trading hours on Friday, hitting $77.50. 305,899 shares of the company were exchanged, compared to its average volume of 476,176. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $4,199.18, a P/E ratio of 22.02, a P/E/G ratio of 2.29 and a beta of 1.37. IBERIABANK Corp has a 52 week low of $68.55 and a 52 week high of $86.40.

IBERIABANK (NASDAQ:IBKC) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.13). The company had revenue of $270.19 million during the quarter, compared to analysts’ expectations of $276.02 million. IBERIABANK had a return on equity of 6.57% and a net margin of 17.14%. IBERIABANK’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. analysts predict that IBERIABANK Corp will post 4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is currently 42.05%.

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IBERIABANK Profile

IBERIABANK Corporation is a financial holding company. The Company is a holding company for IBERIABANK, a Louisiana state chartered banking corporation; Lenders Title Company, an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC (ICP), a corporate finance services firm; 1887 Leasing, LLC, a holding company for its aircraft; IBERIA Asset Management, Inc (IAM), which provides wealth management and trust advisory 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 (CDE), which invests in purchased tax credits.

Institutional Ownership by Quarter for IBERIABANK (NASDAQ:IBKC)

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