Norges Bank acquired a new position in International Bancshares Corporation (NASDAQ:IBOC – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 686,300 shares of the bank’s stock, valued at approximately $45,598,000.
A number of other hedge funds also recently modified their holdings of IBOC. Hantz Financial Services Inc. lifted its position in shares of International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after acquiring an additional 221 shares during the period. Rothschild Investment LLC lifted its holdings in shares of 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 acquiring an additional 499 shares during the period. Danske Bank A S bought a new position in shares of International Bancshares during the 3rd quarter worth about $48,000. Aquatic Capital Management LLC bought a new position in shares of International Bancshares during the 3rd quarter worth about $89,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of International Bancshares during the 4th quarter worth about $96,000. Institutional investors own 65.91% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $85.00.
International Bancshares Price Performance
International Bancshares stock opened at $73.49 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $4.57 billion, a PE ratio of 10.97 and a beta of 0.68. International Bancshares Corporation has a one year low of $61.15 and a one year high of $75.44. The business has a 50 day simple moving average of $71.32 and a 200 day simple moving average of $69.91.
International Bancshares (NASDAQ:IBOC – Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.
International Bancshares 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.
Featured Stories
- Five stocks we like better than International Bancshares
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding IBOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Bancshares Corporation (NASDAQ:IBOC – Free Report).
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.
