International Bancshares (NASDAQ:IBOC – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07), Zacks reports. The company had revenue of $214.82 million during the quarter, compared to analyst estimates of $266.36 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.82%.
International Bancshares Price Performance
NASDAQ:IBOC traded down $1.56 during trading hours on Friday, hitting $73.55. 402,481 shares of the stock were exchanged, compared to its average volume of 300,106. International Bancshares has a 52-week low of $63.19 and a 52-week high of $78.46. The firm’s fifty day moving average price is $75.39 and its 200 day moving average price is $72.11. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.57 billion, a P/E ratio of 11.09 and a beta of 0.69.
International Bancshares Dividend Announcement
The company also recently disclosed a dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.73 dividend. This represents a yield of 192.0%. The ex-dividend date is Friday, August 14th. International Bancshares’s payout ratio is presently 21.79%.
Hedge Funds Weigh In On International Bancshares
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $85.00.
Get Our Latest Research Report on International Bancshares
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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