International Bancshares (NASDAQ:IBOC) Reaches New 12-Month High – Time to Buy?

International Bancshares Corporation (NASDAQ:IBOC)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $75.62 and last traded at $75.47, with a volume of 24740 shares traded. The stock had previously closed at $73.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.00.

International Bancshares Stock Up 1.5%

The stock has a 50-day moving average of $71.32 and a two-hundred day moving average of $69.91. The company has a market cap of $4.64 billion, a P/E ratio of 11.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The firm had revenue of $208.46 million during 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%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IBOC. Dimensional Fund Advisors LP increased its stake in shares of International Bancshares by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,186,820 shares of the bank’s stock worth $214,442,000 after buying an additional 9,468 shares during the period. American Century Companies Inc. increased 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. Charles Schwab Investment Management Inc. grew its stake in shares of International Bancshares by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,879 shares of the bank’s stock worth $151,342,000 after purchasing an additional 45,980 shares during the last quarter. Azora Capital LP grew its stake in shares of International Bancshares by 35.1% in the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after purchasing an additional 395,984 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of International Bancshares by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank’s stock worth $95,385,000 after purchasing an additional 9,496 shares during the last quarter. 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.