Prospera Financial Services Inc lessened its holdings in shares of IBERIABANK Corp (NASDAQ:IBKC) by 33.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,450 shares of the bank’s stock after selling 1,224 shares during the period. Prospera Financial Services Inc’s holdings in IBERIABANK were worth $202,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in IBKC. UBS Group AG boosted its holdings in shares of IBERIABANK by 16.3% during the 1st quarter. UBS Group AG now owns 43,001 shares of the bank’s stock valued at $3,354,000 after buying an additional 6,023 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of IBERIABANK by 38.3% during the 1st quarter. Jane Street Group LLC now owns 4,337 shares of the bank’s stock valued at $338,000 after buying an additional 1,202 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of IBERIABANK by 47.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,423 shares of the bank’s stock valued at $579,000 after buying an additional 2,400 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of IBERIABANK during the 1st quarter valued at $3,540,000. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of IBERIABANK by 1.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 721,519 shares of the bank’s stock valued at $54,691,000 after buying an additional 7,873 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.
A number of equities analysts recently issued reports on the stock. BidaskClub cut shares of IBERIABANK from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. ValuEngine cut shares of IBERIABANK from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, July 25th. Finally, Stephens set a $91.00 price target on shares of IBERIABANK and gave the stock a “hold” rating in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $92.33.
IBERIABANK (NASDAQ:IBKC) last announced its quarterly earnings results on Friday, October 19th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.06. The company had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. IBERIABANK had a net margin of 18.32% and a return on equity of 9.44%. IBERIABANK’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 EPS. As a group, analysts expect that IBERIABANK Corp will post 6.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Monday, December 31st will be paid a $0.41 dividend. This is a boost from IBERIABANK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.64 dividend on an annualized basis and a yield of 2.22%. IBERIABANK’s payout ratio is presently 34.90%.
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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