SG Americas Securities LLC Sells 8,614 Shares of International Bancshares Corporation $IBOC

SG Americas Securities LLC lowered its stake in International Bancshares Corporation (NASDAQ:IBOC) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 73,230 shares of the bank’s stock after selling 8,614 shares during the quarter. SG Americas Securities LLC’s holdings in International Bancshares were worth $5,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IBOC. Azora Capital LP lifted its stake in International Bancshares by 15.1% in the second quarter. Azora Capital LP now owns 1,090,166 shares of the bank’s stock valued at $72,561,000 after buying an additional 142,937 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of International Bancshares by 2.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,700 shares of the bank’s stock worth $779,000 after buying an additional 300 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of International Bancshares by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,731 shares of the bank’s stock valued at $914,000 after acquiring an additional 944 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of International Bancshares by 11.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,630 shares of the bank’s stock valued at $3,237,000 after acquiring an additional 5,037 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of International Bancshares by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock valued at $94,142,000 after acquiring an additional 13,936 shares during the period. 65.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a report on Wednesday, October 8th. Loop Capital set a $85.00 price target on shares of International Bancshares in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares Price Performance

Shares of IBOC opened at $69.86 on Friday. The stock has a 50 day simple moving average of $68.00 and a 200 day simple moving average of $68.72. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $73.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $4.34 billion, a PE ratio of 10.33 and a beta of 0.73.

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

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.