International Bancshares (NASDAQ:IBOC) Issues Quarterly Earnings Results

International Bancshares (NASDAQ:IBOC) released its quarterly earnings data on Thursday. The bank reported $1.74 EPS for the quarter, Zacks reports. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.The firm had revenue of $218.08 million for the quarter.

International Bancshares Stock Down 0.2%

International Bancshares stock traded down $0.13 during mid-day trading on Friday, reaching $67.18. The stock had a trading volume of 198,590 shares, compared to its average volume of 250,537. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 10.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. International Bancshares has a one year low of $54.11 and a one year high of $76.91. The company has a 50-day moving average price of $68.61 and a two-hundred day moving average price of $67.20.

Hedge Funds Weigh In On International Bancshares

A number of hedge funds have recently added to or reduced their stakes in IBOC. Raymond James Financial Inc. bought a new stake in shares of International Bancshares in the 2nd quarter worth $127,000. EverSource Wealth Advisors LLC raised its position in International Bancshares by 17.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock worth $156,000 after buying an additional 341 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of International Bancshares during the 2nd quarter valued at about $200,000. United Services Automobile Association purchased a new position in shares of International Bancshares during the first quarter valued at approximately $213,000. Finally, Balyasny Asset Management L.P. bought a new position in International Bancshares during the second quarter valued at approximately $355,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.