Polaris Capital Management LLC Sells 27,600 Shares of International Bancshares Corporation $IBOC

Polaris Capital Management LLC trimmed its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,004 shares of the bank’s stock after selling 27,600 shares during the period. International Bancshares accounts for 2.5% of Polaris Capital Management LLC’s holdings, making the stock its 13th largest position. Polaris Capital Management LLC owned 0.88% of International Bancshares worth $37,538,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of International Bancshares by 67.3% during the 2nd quarter. UMB Bank n.a. now owns 629 shares of the bank’s stock valued at $42,000 after acquiring an additional 253 shares during the period. CWM LLC increased its stake in International Bancshares by 46.1% in the second quarter. CWM LLC now owns 1,229 shares of the bank’s stock valued at $82,000 after purchasing an additional 388 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of International Bancshares during the second quarter valued at about $127,000. EverSource Wealth Advisors LLC boosted its position in shares of International Bancshares by 17.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock worth $156,000 after purchasing an additional 341 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of International Bancshares in the 2nd quarter valued at about $200,000. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Stock Down 2.1%

IBOC stock opened at $68.39 on Tuesday. The business’s 50-day moving average price is $68.01 and its 200-day moving average price is $68.76. The stock has a market cap of $4.25 billion, a P/E ratio of 10.12 and a beta of 0.73. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a twelve month low of $54.11 and a twelve month high of $73.65.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, November 6th. The bank reported $1.74 EPS for the quarter. The company had revenue of $218.08 million for the quarter. International Bancshares had a net margin of 40.10% and a return on equity of 14.20%.

Wall Street Analyst Weigh In

IBOC has been the topic of several analyst reports. Loop Capital set a $85.00 price target on shares of International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares has an average rating of “Buy” and an average price target 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.