Johnson Investment Counsel Inc Lowers stake in IBERIABANK Corp (IBKC)

IBERIABANK Corp (IBKC) : Johnson Investment Counsel Inc reduced its stake in IBERIABANK Corp by 13.82% during the most recent quarter end. The investment management company now holds a total of 436,768 shares of IBERIABANK Corp which is valued at $33,827,682 after selling 70,039 shares in IBERIABANK Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.IBERIABANK Corp makes up approximately 1.10% of Johnson Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Princeton Alpha Management Lp added IBKC to its portfolio by purchasing 3,742 company shares during the most recent quarter which is valued at $275,224. IBERIABANK Corp makes up approx 0.05% of Princeton Alpha Management Lp’s portfolio. Bowling Portfolio Management added IBKC to its portfolio by purchasing 10,347 company shares during the most recent quarter which is valued at $761,022. IBERIABANK Corp makes up approx 0.11% of Bowling Portfolio Management’s portfolio. Tfs Capital added IBKC to its portfolio by purchasing 7,360 company shares during the most recent quarter which is valued at $541,328. IBERIABANK Corp makes up approx 0.13% of Tfs Capital’s portfolio.Hgk Asset Management Inc boosted its stake in IBKC in the latest quarter, The investment management firm added 3,494 additional shares and now holds a total of 7,393 shares of IBERIABANK Corp which is valued at $496,440. IBERIABANK Corp makes up approx 0.08% of Hgk Asset Management Inc’s portfolio.

IBERIABANK Corp opened for trading at $78.6 and hit $80 on the upside on Monday, eventually ending the session at $79.75, with a gain of 1.85% or 1.45 points. The heightened volatility saw the trading volume jump to 2,97,291 shares. Company has a market cap of $3,276 M.

On the company’s financial health, IBERIABANK Corp reported $1.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $1.20. The company had revenue of $223.23 million for the quarter, compared to analysts expectations of $231.16 million. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on IBERIABANK Corp. IBERIABANK Corp was Downgraded by Raymond James to ” Outperform” on Oct 27, 2016. IBERIABANK Corp was Upgraded by Piper Jaffray to ” Overweight” on Oct 7, 2016. IBERIABANK Corp was Downgraded by Sandler O’Neill to ” Hold” on Sep 13, 2016.

IBERIABANK Corporation is a financial holding company. The Company is the holding company for IBERIABANK a Louisiana banking corporation; Lenders Title Company an Arkansas-chartered title insurance and closing services agency (Lenders Title); IBERIA Capital Partners LLC a corporate finance services firm (ICP); IB Aircraft Holdings LLC a holding company for the Company’s fractional investment in an aircraft 1887 Leasing LLC a holding company for its investment in a separate aircraft; IBERIA Asset Management Inc. (IAM) which provides wealth management and trust services to high net worth individuals pension funds corporations and trusts and IBERIA CDE L.L.C. (CDE) which invests in purchased tax credits. IBERIABANK offers commercial and retail banking products and services to customers throughout locations in six states including Louisiana Alabama Florida Arkansas Tennessee and Texas. The Bank operates in 314 locations with 216 bank branch offices.

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