Shares of International Bancshares Corporation (NASDAQ:IBOC – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $69.23 and traded as high as $71.63. International Bancshares shares last traded at $70.83, with a volume of 261,392 shares traded.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $85.00.
Check Out Our Latest Analysis on International Bancshares
International Bancshares Stock Down 1.2%
International Bancshares (NASDAQ:IBOC – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.04). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The firm had revenue of $208.46 million for the quarter, compared to the consensus estimate of $257.28 million.
Hedge Funds Weigh In On International Bancshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its stake in shares of International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after acquiring an additional 402 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares during the period. Quadrant Capital Group LLC raised 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 last quarter. Rothschild Investment LLC raised its position in International Bancshares by 554.4% during the 3rd quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock worth $40,000 after purchasing an additional 499 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in International Bancshares during the 4th quarter worth $47,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.
International Bancshares Company Profile
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.
Read More
- Five stocks we like better than International Bancshares
- Target the Red-Hot Spin-Off and Merger Space With These ETFs
- Samsung Joins the $1 Trillion Club as AI Memory Demand Explodes
- Japan’s Stealth Bull Market: How U.S. Investors Can Get Exposure
- 3 Stocks to Own If Gas Prices Keep Rising
Receive News & Ratings for International Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.
