Harbor Capital Advisors Inc. Cuts Stock Holdings in International Bancshares Corporation $IBOC

Harbor Capital Advisors Inc. lessened its stake in International Bancshares Corporation (NASDAQ:IBOC) by 76.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,788 shares of the bank’s stock after selling 53,170 shares during the period. Harbor Capital Advisors Inc.’s holdings in International Bancshares were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its stake in International Bancshares by 19.3% in the 2nd quarter. American Century Companies Inc. now owns 2,885,687 shares of the bank’s stock worth $192,071,000 after purchasing an additional 466,929 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in International Bancshares by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,298 shares of the bank’s stock valued at $145,919,000 after buying an additional 50,339 shares during the last quarter. Geode Capital Management LLC boosted its position in International Bancshares by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock valued at $94,142,000 after buying an additional 13,936 shares during the period. Boston Trust Walden Corp boosted its position in International Bancshares by 0.5% during the 2nd quarter. Boston Trust Walden Corp now owns 1,405,068 shares of the bank’s stock valued at $93,521,000 after buying an additional 7,019 shares during the period. Finally, First Trust Advisors LP grew its holdings in International Bancshares by 1.7% in the 2nd quarter. First Trust Advisors LP now owns 1,251,947 shares of the bank’s stock worth $83,330,000 after acquiring an additional 21,250 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

International Bancshares Stock Down 0.3%

IBOC stock opened at $68.60 on Friday. 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 company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 10.15 and a beta of 0.76. The business’s 50 day moving average price is $67.79 and its two-hundred day moving average price is $68.39. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $73.65.

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

About International Bancshares

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.