International Bancshares (NASDAQ:IBOC) Hits New 12-Month High – Here’s Why

International Bancshares Corporation (NASDAQ:IBOC) hit a new 52-week high during trading on Thursday . The company traded as high as $73.66 and last traded at $72.98, with a volume of 33724 shares trading hands. The stock had previously closed at $72.39.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

International Bancshares Stock Up 0.4%

The stock has a market cap of $4.52 billion, a P/E ratio of 10.75 and a beta of 0.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $67.01 and a two-hundred day simple moving average of $67.82.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Thursday, November 6th. The bank reported $1.74 EPS for the quarter. The company 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%.

Institutional Investors Weigh In On International Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in shares of International Bancshares by 9.2% during the first quarter. Cetera Investment Advisers now owns 3,665 shares of the bank’s stock valued at $231,000 after buying an additional 308 shares during the period. Citigroup Inc. boosted its holdings in International Bancshares by 47.3% in the first quarter. Citigroup Inc. now owns 121,772 shares of the bank’s stock valued at $7,679,000 after acquiring an additional 39,101 shares in the last quarter. Nuveen LLC purchased a new position in International Bancshares during the 1st quarter valued at $17,195,000. Russell Investments Group Ltd. raised its holdings in International Bancshares by 8.7% in the 1st quarter. Russell Investments Group Ltd. now owns 44,957 shares of the bank’s stock worth $2,835,000 after purchasing an additional 3,588 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in International Bancshares by 37.9% in the 1st quarter. American Century Companies Inc. now owns 2,418,758 shares of the bank’s stock worth $152,527,000 after purchasing an additional 665,280 shares in the last quarter. Hedge funds and other 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.