Edgestream Partners L.P. Acquires New Holdings in International Bancshares Corporation $IBOC

Edgestream Partners L.P. bought a new stake in International Bancshares Corporation (NASDAQ:IBOC) during the first quarter, Holdings Channel.com reports. The firm bought 80,144 shares of the bank’s stock, valued at approximately $5,393,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its stake in shares of International Bancshares by 4,020.0% during the fourth 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. lifted its stake in shares of 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 last quarter. Quadrant Capital Group LLC lifted its stake in shares of 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 last quarter. Meeder Asset Management Inc. acquired a new stake in shares of International Bancshares during the 4th quarter valued at $47,000. Finally, Danske Bank A S acquired a new stake in shares of International Bancshares during the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares Trading Up 0.3%

Shares of NASDAQ IBOC opened at $76.54 on Friday. The firm has a 50 day moving average price of $75.10 and a two-hundred day moving average price of $71.90. The stock has a market cap of $4.76 billion, a P/E ratio of 11.42 and a beta of 0.68. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46. 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 issued its quarterly earnings results on Thursday, May 7th. The bank reported $1.64 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 business had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million.

International Bancshares 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.