International Bancshares Corporation $IBOC Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 49.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 210,864 shares of the bank’s stock after acquiring an additional 69,466 shares during the quarter. JPMorgan Chase & Co.’s holdings in International Bancshares were worth $14,497,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IBOC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in International Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,200 shares of the bank’s stock valued at $2,031,000 after buying an additional 1,414 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of International Bancshares by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock valued at $34,554,000 after acquiring an additional 6,909 shares in the last quarter. United Services Automobile Association acquired a new position in International Bancshares in the 1st quarter worth approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in International Bancshares by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 167,376 shares of the bank’s stock worth $10,555,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in International Bancshares by 202.9% during the 1st quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock valued at $5,828,000 after purchasing an additional 61,905 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

IBOC opened at $68.62 on Thursday. The stock has a fifty day moving average price of $69.98 and a 200 day moving average price of $69.10. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $75.44. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 10.37 and a beta of 0.72.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.08. The company had revenue of $217.71 million during the quarter. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date of this dividend was Friday, February 13th. International Bancshares’s payout ratio is currently 22.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. Loop Capital set a $85.00 price objective on 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, International Bancshares has a consensus rating of “Buy” and a consensus target price 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.