SG Americas Securities LLC Buys 14,781 Shares of International Bancshares Corporation $IBOC

SG Americas Securities LLC raised its stake in International Bancshares Corporation (NASDAQ:IBOC) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,348 shares of the bank’s stock after purchasing an additional 14,781 shares during the period. SG Americas Securities LLC’s holdings in International Bancshares were worth $6,887,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after buying an additional 402 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after acquiring an additional 221 shares during the period. Quadrant Capital Group LLC raised its holdings in International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after acquiring an additional 232 shares during the period. Danske Bank A S acquired a new stake in International Bancshares during the third quarter worth approximately $48,000. Finally, Meeder Asset Management Inc. acquired a new stake in International Bancshares during the fourth quarter worth approximately $47,000. 65.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, International Bancshares currently has an average rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares Price Performance

NASDAQ:IBOC opened at $77.82 on Monday. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 11.61 and a beta of 0.68. The firm’s 50-day simple moving average is $73.01 and its 200 day simple moving average is $70.75. 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 posted 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 net margin of 39.33% and a return on equity of 13.16%. The business had revenue of $208.46 million during the quarter, compared to the consensus estimate of $257.28 million.

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.