1832 Asset Management LP Lowered Its Holding in Novartis A G (NVS) as Shares Declined; Iberiabank (IBKC) Share Value Declined While Iberiabank Has Lowered Its Position by $1.14 Million

April 18, 2018 - By Marie Mckinney

IBERIABANK Corporation (NASDAQ:IBKC) Logo

1832 Asset Management Lp decreased its stake in Novartis A G (NVS) by 81.24% based on its latest 2017Q4 regulatory filing with the SEC. 1832 Asset Management Lp sold 24,893 shares as the company’s stock declined 4.22% with the market. The institutional investor held 5,750 shares of the major pharmaceuticals company at the end of 2017Q4, valued at $481,000, down from 30,643 at the end of the previous reported quarter. 1832 Asset Management Lp who had been investing in Novartis A G for a number of months, seems to be less bullish one the $191.96 billion market cap company. The stock increased 0.75% or $0.61 during the last trading session, reaching $81.78. About 3.10M shares traded or 75.54% up from the average. Novartis AG (NYSE:NVS) has risen 5.79% since April 18, 2017 and is uptrending. It has underperformed by 5.76% the S&P500.

Iberiabank Corp decreased its stake in Iberiabank Corp (IBKC) by 47.64% based on its latest 2017Q4 regulatory filing with the SEC. Iberiabank Corp sold 14,817 shares as the company’s stock declined 2.14% with the market. The institutional investor held 16,288 shares of the major banks company at the end of 2017Q4, valued at $1.26 million, down from 31,105 at the end of the previous reported quarter. Iberiabank Corp who had been investing in Iberiabank Corp for a number of months, seems to be less bullish one the $4.21 billion market cap company. The stock decreased 0.57% or $0.45 during the last trading session, reaching $77.9. About 293,917 shares traded. IBERIABANK Corporation (NASDAQ:IBKC) has risen 2.51% since April 18, 2017 and is uptrending. It has underperformed by 9.04% the S&P500.

Iberiabank Corp, which manages about $640.18 million US Long portfolio, upped its stake in Celgene Corp (NASDAQ:CELG) by 11,859 shares to 40,168 shares, valued at $4.19M in 2017Q4, according to the filing. It also increased its holding in Graco Inc (NYSE:GGG) by 14,120 shares in the quarter, for a total of 21,234 shares, and has risen its stake in Vanguard Total Bond Market Index Etf (BND).

Analysts await IBERIABANK Corporation (NASDAQ:IBKC) to report earnings on April, 19 after the close. They expect $1.42 earnings per share, up 39.22% or $0.40 from last year’s $1.02 per share. IBKC’s profit will be $76.67M for 13.71 P/E if the $1.42 EPS becomes a reality. After $1.33 actual earnings per share reported by IBERIABANK Corporation for the previous quarter, Wall Street now forecasts 6.77% EPS growth.

Investors sentiment decreased to 1.16 in Q4 2017. Its down 0.22, from 1.38 in 2017Q3. It worsened, as 29 investors sold IBKC shares while 65 reduced holdings. 38 funds opened positions while 71 raised stakes. 45.24 million shares or 7.84% more from 41.95 million shares in 2017Q3 were reported. 21,107 were accumulated by Credit Agricole S A. Stratos Wealth Ltd holds 0% or 300 shares. Lsv Asset Management, Illinois-based fund reported 79,300 shares. Vaughan David Invs Inc Il reported 5,649 shares. Swiss Bancorp holds 0.01% or 91,423 shares in its portfolio. Schwab Charles Invest Mngmt stated it has 0.02% of its portfolio in IBERIABANK Corporation (NASDAQ:IBKC). Principal Grp Incorporated, a Iowa-based fund reported 5,355 shares. City stated it has 0.01% in IBERIABANK Corporation (NASDAQ:IBKC). 2.77M are held by Silvercrest Asset Management Grp Limited Company. Smith Graham Investment LP reported 0.65% stake. Moreover, Canada Pension Plan Inv Board has 0.01% invested in IBERIABANK Corporation (NASDAQ:IBKC) for 50,600 shares. Rafferty Asset Mngmt Lc holds 3,770 shares. 49,539 are owned by Rmb Capital Management Ltd Liability Com. Earnest Ltd Liability Company reported 348 shares. Aqr Cap Management Ltd Liability Corp, Connecticut-based fund reported 15,851 shares.

Among 14 analysts covering IberiaBank (NASDAQ:IBKC), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. IberiaBank had 51 analyst reports since August 25, 2015 according to SRatingsIntel. Jefferies upgraded the shares of IBKC in report on Monday, October 9 to “Buy” rating. The firm has “Outperform” rating by FBR Capital given on Thursday, March 31. On Tuesday, September 13 the stock rating was downgraded by Sandler O’Neill to “Hold”. On Thursday, October 5 the stock rating was reinitiated by PiperJaffray with “Overweight”. The stock of IBERIABANK Corporation (NASDAQ:IBKC) earned “Buy” rating by SunTrust on Monday, January 8. The company was initiated on Thursday, February 2 by JMP Securities. Jefferies maintained IBERIABANK Corporation (NASDAQ:IBKC) on Friday, August 11 with “Hold” rating. The stock has “Neutral” rating by Piper Jaffray on Thursday, January 7. Sandler O’Neill upgraded the shares of IBKC in report on Thursday, October 1 to “Buy” rating. The firm has “Outperform” rating by Raymond James given on Thursday, October 27.

Among 16 analysts covering Novartis Ag (NYSE:NVS), 5 have Buy rating, 4 Sell and 7 Hold. Therefore 31% are positive. Novartis Ag had 36 analyst reports since July 28, 2015 according to SRatingsIntel. The rating was upgraded by Societe Generale on Wednesday, March 8 to “Buy”. Bank of America downgraded the shares of NVS in report on Wednesday, December 6 to “Sell” rating. The firm has “Neutral” rating by Citigroup given on Tuesday, March 29. The stock has “Hold” rating by Cowen & Co on Monday, September 11. The rating was maintained by J P Morgan Chase Co with “Neutral” on Friday, June 16. The stock has “Underperform” rating by Credit Suisse on Wednesday, July 5. Leerink Swann downgraded the stock to “Market Perform” rating in Wednesday, March 23 report. The stock of Novartis AG (NYSE:NVS) has “Market Perform” rating given on Thursday, January 25 by Leerink Swann. Chardan Capital Markets initiated the stock with “Buy” rating in Tuesday, September 20 report. The firm earned “Neutral” rating on Thursday, March 23 by Goldman Sachs.

1832 Asset Management Lp, which manages about $36.47 billion and $30.77 billion US Long portfolio, upped its stake in Cdw Corp (NASDAQ:CDW) by 82,195 shares to 615,836 shares, valued at $42.73M in 2017Q4, according to the filing. It also increased its holding in Powershares Etf Trust (PSJ) by 9,266 shares in the quarter, for a total of 27,366 shares, and has risen its stake in Zayo Group Hldgs Inc (NYSE:ZAYO).

IBERIABANK Corporation (NASDAQ:IBKC) Institutional Positions Chart

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