International Bancshares (NASDAQ:IBOC) Posts Earnings Results

International Bancshares (NASDAQ:IBOC) announced its earnings results on Thursday. The bank reported $1.71 earnings per share (EPS) for the quarter, Zacks reports. International Bancshares had a net margin of 40.10% and a return on equity of 14.20%.

International Bancshares Trading Up 1.3%

IBOC stock traded up $0.91 during midday trading on Thursday, reaching $70.77. The company’s stock had a trading volume of 191,539 shares, compared to its average volume of 269,878. International Bancshares has a 1 year low of $54.11 and a 1 year high of $75.44. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.47 and a beta of 0.73. The stock has a fifty day simple moving average of $70.10 and a two-hundred day simple moving average of $69.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76.

International Bancshares Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date of this dividend is Friday, February 13th. International Bancshares’s dividend payout ratio is 21.60%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position 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 buying an additional 232 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of International Bancshares in the fourth quarter valued at approximately $47,000. Danske Bank A S bought a new position in International Bancshares in the third quarter worth approximately $48,000. CIBC Private Wealth Group LLC increased its holdings in International Bancshares by 64.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock worth $52,000 after purchasing an additional 306 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in International Bancshares during the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Analyst Upgrades and Downgrades

IBOC has been the topic of several analyst reports. Loop Capital set a $85.00 price objective on International Bancshares in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares presently has a consensus rating of “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.