Louisiana State Employees Retirement System acquired a new position in International Bancshares Corporation (NASDAQ:IBOC – Free Report) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 15,700 shares of the bank’s stock, valued at approximately $1,056,000.
Several other institutional investors also recently modified their holdings of IBOC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of International Bancshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,200 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 1,414 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in International Bancshares by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock worth $34,554,000 after buying an additional 6,909 shares in the last quarter. United Services Automobile Association acquired a new stake in International Bancshares during the first quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in International Bancshares by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 167,376 shares of the bank’s stock valued at $10,555,000 after buying an additional 3,689 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of International Bancshares by 202.9% in the 1st quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock valued at $5,828,000 after buying an additional 61,905 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
International Bancshares Stock Performance
IBOC stock opened at $75.90 on Friday. International Bancshares Corporation has a 1-year low of $63.19 and a 1-year high of $78.46. The firm has a market cap of $4.72 billion, a P/E ratio of 11.33 and a beta of 0.68. The business’s 50 day moving average is $73.48 and its 200-day moving average is $70.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of $85.00.
View Our Latest Analysis on IBOC
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.
Read More
- Five stocks we like better than International Bancshares
- These Stocks Could Win as Wall Street Looks Beyond AI Software
- D.R. Horton Is Defying the Housing Gloom
- Why Flywire and Airbnb Could Be Quiet Winners of a Ceasefire
- Broadcom and OpenAI Unveil Jalapeño: An Early Step to Massive AI Growth Potential
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.
