SummitTX Capital L.P. purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC – Free Report) during the first quarter, HoldingsChannel reports. The firm purchased 20,257 shares of the bank’s stock, valued at approximately $1,363,000.
Other large investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after purchasing an additional 402 shares during the period. Hantz Financial Services Inc. increased its position in International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after purchasing an additional 221 shares during the period. Quadrant Capital Group LLC increased its position in International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares during the period. Meeder Asset Management Inc. acquired a new position in International Bancshares during the 4th quarter worth approximately $47,000. Finally, Danske Bank A S purchased a new position in shares of International Bancshares during the 3rd quarter worth approximately $48,000. 65.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, International Bancshares presently has an average rating of “Strong Buy” and a consensus price target of $85.00.
International Bancshares Stock Performance
NASDAQ:IBOC opened at $76.66 on Thursday. The firm’s fifty day simple moving average is $74.93 and its 200-day simple moving average is $71.82. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.77 billion, a PE ratio of 11.44 and a beta of 0.68. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46.
International Bancshares (NASDAQ:IBOC – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.04). The company had revenue of $208.46 million during the quarter, compared to analyst estimates of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.
About International Bancshares
International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.
The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.
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