Investment Management of Virginia LLC lessened its stake in shares of IBERIABANK Corp (NASDAQ:IBKC) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,626 shares of the bank’s stock after selling 4,874 shares during the quarter. IBERIABANK comprises approximately 2.3% of Investment Management of Virginia LLC’s portfolio, making the stock its 5th biggest position. Investment Management of Virginia LLC owned about 0.24% of IBERIABANK worth $9,814,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in IBKC. Canada Pension Plan Investment Board acquired a new stake in shares of IBERIABANK during the third quarter valued at $107,000. Cerebellum GP LLC acquired a new stake in shares of IBERIABANK during the fourth quarter valued at $128,000. Cubist Systematic Strategies LLC acquired a new stake in shares of IBERIABANK during the second quarter valued at $183,000. Nomura Holdings Inc. acquired a new stake in shares of IBERIABANK during the second quarter valued at $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of IBERIABANK by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,012 shares of the bank’s stock valued at $233,000 after acquiring an additional 879 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.
Shares of IBERIABANK Corp (NASDAQ:IBKC) traded up $2.25 on Thursday, hitting $84.05. The stock had a trading volume of 299,400 shares, compared to its average volume of 426,714. The firm has a market cap of $4,406.49, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.40. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.31. IBERIABANK Corp has a one year low of $68.55 and a one year high of $87.55.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, December 28th. IBERIABANK’s dividend payout ratio (DPR) is 55.85%.
Several equities analysts recently weighed in on IBKC shares. Piper Jaffray Companies set a $95.00 target price on IBERIABANK and gave the stock a “buy” rating in a research report on Monday, January 29th. BidaskClub downgraded IBERIABANK from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded IBERIABANK from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens downgraded IBERIABANK from an “overweight” rating to an “equal weight” rating in a report on Friday, October 20th. Finally, Raymond James Financial restated an “outperform” rating on shares of IBERIABANK in a report on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. IBERIABANK has a consensus rating of “Buy” and a consensus price target of $89.82.
In other news, Director William H. Fenstermaker acquired 2,500 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were bought at an average price of $71.81 per share, with a total value of $179,525.00. Following the purchase, the director now owns 43,242 shares of the company’s stock, valued at $3,105,208.02. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Davis sold 3,263 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $74.24, for a total value of $242,245.12. Following the completion of the sale, the insider now directly owns 57,886 shares in the company, valued at approximately $4,297,456.64. The disclosure for this sale can be found here. Company insiders own 3.17% of the company’s stock.
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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.
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