International Bancshares (NASDAQ:IBOC) Reaches New 52-Week High – Still a Buy?

International Bancshares Corporation (NASDAQ:IBOC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.42 and last traded at $74.0940, with a volume of 17505 shares. The stock had previously closed at $72.43.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IBOC. Loop Capital set a $85.00 price target on shares of International Bancshares in a report on Wednesday, December 31st. Weiss Ratings restated 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $85.00.

International Bancshares Stock Up 2.7%

The firm’s fifty day moving average is $69.26 and its 200-day moving average is $68.81. The company has a market capitalization of $4.62 billion, a P/E ratio of 11.00 and a beta of 0.73. 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 (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, November 6th. The bank reported $1.74 EPS for the quarter. The business had revenue of $218.08 million during the quarter. International Bancshares had a net margin of 40.10% and a return on equity of 14.20%.

International Bancshares Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 13th. This represents a yield of 203.0%. International Bancshares’s payout ratio is currently 20.71%.

Hedge Funds Weigh In On International Bancshares

Large investors have recently bought and sold shares of the company. Rothschild Investment LLC grew its holdings in shares of International Bancshares by 554.4% during the third quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock worth $40,000 after purchasing an additional 499 shares during the last quarter. Danske Bank A S acquired a new stake in International Bancshares during the 3rd quarter worth approximately $48,000. Covestor Ltd grew its holdings in International Bancshares by 19.9% during the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock worth $82,000 after acquiring an additional 199 shares during the last quarter. CWM LLC increased its position in International Bancshares by 46.1% in the 2nd quarter. CWM LLC now owns 1,229 shares of the bank’s stock valued at $82,000 after acquiring an additional 388 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of International Bancshares during the third quarter valued at $89,000. 65.91% of the stock is currently owned by institutional investors.

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.