International Bancshares (NASDAQ:IBOC) Sets New 1-Year High – Here’s What Happened

International Bancshares Corporation (NASDAQ:IBOC) hit a new 52-week high on Monday . The stock traded as high as $76.73 and last traded at $76.8050, with a volume of 413460 shares changing hands. The stock had previously closed at $76.53.

Wall Street Analyst Weigh In

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

International Bancshares Trading Up 0.6%

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $72.27 and its 200 day moving average price is $70.32. The company has a market capitalization of $4.70 billion, a P/E ratio of 11.27 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The firm had revenue of $208.46 million during the quarter, compared to the consensus estimate of $257.28 million.

Institutional Investors Weigh In On International Bancshares

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in International Bancshares by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock worth $212,453,000 after purchasing an additional 204,536 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new stake in International Bancshares in the 3rd quarter worth about $3,512,000. JPMorgan Chase & Co. grew its position 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 purchasing an additional 69,466 shares in the last quarter. First Trust Advisors LP grew its position 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 purchasing an additional 18,591 shares in the last quarter. Finally, Azora Capital LP grew its position in International Bancshares by 3.5% in the 3rd quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock worth $77,575,000 after purchasing an additional 38,195 shares in the last quarter. 65.91% of the stock is owned by institutional investors.

International Bancshares Company 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.