Y Intercept Hong Kong Ltd Buys 12,210 Shares of International Bancshares Corporation $IBOC

Y Intercept Hong Kong Ltd grew its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 35.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 46,226 shares of the bank’s stock after acquiring an additional 12,210 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in International Bancshares were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its holdings in shares of International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. lifted its holdings in International Bancshares by 82.5% in the fourth 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 boosted its position in International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of International Bancshares during the 4th quarter valued at about $47,000. Finally, Danske Bank A S purchased a new stake in shares of International Bancshares during the 3rd quarter valued at about $48,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Stock Performance

Shares of IBOC stock traded up $0.30 during trading hours on Tuesday, reaching $76.41. 46,400 shares of the company traded hands, compared to its average volume of 363,003. The firm has a 50-day moving average price of $73.56 and a 200 day moving average price of $70.93. The company has a market cap of $4.75 billion, a P/E ratio of 11.40 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. International Bancshares Corporation has a 12-month low of $63.19 and a 12-month high of $78.46.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing the consensus estimate 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%.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, International Bancshares currently has a consensus rating of “Strong Buy” and an average target price of $85.00.

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.