International Bancshares Corporation (NASDAQ:IBOC) Short Interest Update

International Bancshares Corporation (NASDAQ:IBOC) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,841,066 shares, a growth of 24.0% from the February 26th total of 1,484,699 shares. Based on an average trading volume of 379,827 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IBOC. Exencial Wealth Advisors LLC acquired a new stake in International Bancshares during the third quarter worth approximately $1,728,000. American Century Companies Inc. lifted its stake in International Bancshares by 7.1% in the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after buying an additional 204,536 shares during the period. Azora Capital LP boosted its holdings in shares of International Bancshares by 15.1% during the 2nd quarter. Azora Capital LP now owns 1,090,166 shares of the bank’s stock worth $72,561,000 after buying an additional 142,937 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of International Bancshares by 49.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after buying an additional 69,466 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of International Bancshares during the 3rd quarter worth approximately $3,512,000. 65.91% of the stock is owned by institutional investors.

International Bancshares Trading Up 1.7%

International Bancshares stock traded up $1.12 during mid-day trading on Wednesday, hitting $68.41. 195,103 shares of the stock were exchanged, compared to its average volume of 370,449. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 10.33 and a beta of 0.72. International Bancshares has a 12 month low of $54.11 and a 12 month high of $75.44. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $69.44 and its two-hundred day simple moving average is $68.57.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The company had revenue of $217.71 million for the quarter.

International Bancshares Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a yield of 203.0%. International Bancshares’s dividend payout ratio is 22.05%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 target price on International Bancshares in a report on Wednesday, December 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $85.00.

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.