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September 27, 2020

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IBERIABANK Corporation (NASDAQ:IBKC) Bounces Up on Dividend Announcement

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IBERIABANK Corporation (NASDAQ:IBKC) spotted trading -12.23% off 52-week high price. On the other end, the stock has been noted 26.27% away from the low price over the last 52-weeks. The stock changed 2.43% to recent value of $76.8. The stock transacted 338781 shares during most recent day however it has an average volume of 367.14K shares. The company has 54.2M of outstanding shares and 53.51M shares were floated in the market.

April 11, 2019 The Board of Directors of IBERIABANK Corporation (NASDAQ:IBKC) announced the declaration of a quarterly cash dividend on the outstanding shares of its 6.60% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C, par value $1.00 per share (the “Series C Preferred Stock”).

On May 9, 2016, the Company issued an aggregate of 2,300,000 depositary shares (the “Depositary Shares”), each representing a 1/400th ownership interest in a share of the Series C Preferred Stock, with a liquidation preference of $10,000 per share of Series C Preferred Stock (equivalent to $25 per Depositary Share), which represents $57,500,000 in aggregate liquidation preference.

The declared cash dividend equated to approximately $0.4125 per Depositary Share, or $165.00 per share of Series C Preferred Stock outstanding. The cash dividend is payable on May 1, 2019 to shareholders of record as of the close of business on April 21, 2019. When, as, and if declared by the Board of Directors, future dividends on the Series C Preferred Stock and associated Depositary Shares will be payable quarterly, in arrears, on February 1, May 1, August 1, and November 1 of each year.

The Company’s Series C Preferred Stock trades on the NASDAQ Global Select Market under the symbol “IBKCO.”

Its earnings per share (EPS) expected to touch remained 50.30% for this year while earning per share for the next 5-years is expected to reach at 8.00%. IBKC has an operating margin of 79.60% while its profit margin remained 29.30% for the last 12 months.

The price moved ahead of 4.69% from the mean of 20 days, 2.01% from mean of 50 days SMA and performed -0.05% from mean of 200 days price. Company’s performance for the week was 2.52%, 1.12% for month and YTD performance remained 19.48%.