International Bancshares Corporation $IBOC Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,593 shares of the bank’s stock after buying an additional 14,454 shares during the period. Kovack Advisors Inc. owned about 0.24% of International Bancshares worth $10,076,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. WINTON GROUP Ltd increased its position in shares of International Bancshares by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock worth $1,223,000 after acquiring an additional 196 shares in the last quarter. Hantz Financial Services Inc. boosted its position in International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after purchasing an additional 221 shares during the period. EverSource Wealth Advisors LLC increased its holdings in International Bancshares by 17.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock valued at $156,000 after purchasing an additional 341 shares in the last quarter. Handelsbanken Fonder AB raised its position in International Bancshares by 3.1% in the fourth quarter. Handelsbanken Fonder AB now owns 13,502 shares of the bank’s stock valued at $897,000 after purchasing an additional 400 shares during the period. Finally, BNP Paribas Financial Markets raised its position in International Bancshares by 3.2% in the second quarter. BNP Paribas Financial Markets now owns 13,015 shares of the bank’s stock valued at $866,000 after purchasing an additional 405 shares during the period. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Stock Performance

International Bancshares stock opened at $75.67 on Friday. International Bancshares Corporation has a 12-month low of $61.15 and a 12-month high of $75.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.29 and a beta of 0.68. The firm’s fifty day moving average price is $71.79 and its 200 day moving average price is $70.12.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data 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). International Bancshares had a net margin of 39.33% and a return on equity of 13.16%. The firm had revenue of $208.46 million during the quarter, compared to analysts’ expectations 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.