International Bancshares Corporation (NASDAQ:IBOC – Get Free Report)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $76.73 and last traded at $76.8050, with a volume of 413460 shares. The stock had previously closed at $76.53.
Analyst Ratings Changes
Separately, Weiss Ratings downgraded International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.00.
Read Our Latest Stock Analysis on International Bancshares
International Bancshares Trading Down 0.4%
International Bancshares (NASDAQ:IBOC – Get Free Report) last issued 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 analysts’ expectations of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.
Institutional Investors Weigh In On International Bancshares
Several large investors have recently modified their holdings of IBOC. American Century Companies Inc. raised its stake in shares of International Bancshares by 7.1% in the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock worth $212,453,000 after buying an additional 204,536 shares during the period. Elizabeth Park Capital Advisors Ltd. bought a new position in shares of International Bancshares during the 3rd quarter valued at approximately $3,512,000. JPMorgan Chase & Co. increased its holdings in International Bancshares by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after acquiring an additional 69,466 shares in the last quarter. First Trust Advisors LP increased its holdings in International Bancshares by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock worth $87,349,000 after acquiring an additional 18,591 shares in the last quarter. Finally, Azora Capital LP raised its stake in International Bancshares by 3.5% during the 3rd quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock worth $77,575,000 after acquiring an additional 38,195 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.
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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