Adams Diversified Equity Fund Inc. bought a new stake in IBERIABANK Corp (NASDAQ:IBKC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,000 shares of the bank’s stock, valued at approximately $732,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in IBKC. Simplex Trading LLC bought a new position in shares of IBERIABANK during the 3rd quarter valued at about $105,000. First Mercantile Trust Co. bought a new position in shares of IBERIABANK during the 2nd quarter valued at about $117,000. Stokes & Hubbell Capital Management LLC bought a new position in shares of IBERIABANK during the 3rd quarter valued at about $205,000. First Republic Investment Management Inc. bought a new position in shares of IBERIABANK during the 2nd quarter valued at about $224,000. Finally, Fox Run Management L.L.C. bought a new position in shares of IBERIABANK during the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.
IBKC stock opened at $73.91 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.38. IBERIABANK Corp has a one year low of $68.55 and a one year high of $87.55. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.36 and a beta of 1.44.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, December 28th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 2.22%. IBERIABANK’s dividend payout ratio is currently 34.90%.
Several equities analysts have recently weighed in on IBKC shares. Zacks Investment Research upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, July 25th. BidaskClub upgraded shares of IBERIABANK from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Stephens set a $91.00 price objective on shares of IBERIABANK and gave the company a “hold” rating in a research report on Friday, October 19th. Finally, ValuEngine raised shares of IBERIABANK from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $92.33.
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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