International Bancshares (NASDAQ:IBOC) Downgraded to Sell at StockNews.com

International Bancshares (NASDAQ:IBOC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

International Bancshares Trading Up 1.8 %

Shares of International Bancshares stock traded up $1.04 during trading on Friday, hitting $59.42. The stock had a trading volume of 268,475 shares, compared to its average volume of 232,894. The stock has a market cap of $3.69 billion, a PE ratio of 8.98 and a beta of 0.92. International Bancshares has a 12 month low of $39.10 and a 12 month high of $59.54. The firm’s fifty day simple moving average is $54.39 and its 200-day simple moving average is $51.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.70 and a quick ratio of 0.70.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%.

Insiders Place Their Bets

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares of the company’s stock, valued at $71,149,923.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IBOC. BNP Paribas Financial Markets lifted its holdings in shares of International Bancshares by 32.0% in the 1st quarter. BNP Paribas Financial Markets now owns 28,275 shares of the bank’s stock worth $1,587,000 after buying an additional 6,858 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of International Bancshares by 31.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,298 shares of the bank’s stock valued at $2,375,000 after acquiring an additional 10,150 shares in the last quarter. Vest Financial LLC lifted its stake in International Bancshares by 231.2% in the first quarter. Vest Financial LLC now owns 15,461 shares of the bank’s stock worth $868,000 after acquiring an additional 10,793 shares during the period. Allspring Global Investments Holdings LLC bought a new position in International Bancshares during the 1st quarter worth about $151,000. Finally, Principal Financial Group Inc. increased its position in International Bancshares by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 222,652 shares of the bank’s stock valued at $12,500,000 after purchasing an additional 5,824 shares during the period. Institutional investors own 65.91% of the company’s stock.

International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.