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

JPMorgan Chase & Co. lifted its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 49.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,864 shares of the bank’s stock after purchasing an additional 69,466 shares during the period. JPMorgan Chase & Co.’s holdings in International Bancshares were worth $14,497,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new stake in International Bancshares during the third quarter valued at approximately $400,000. Danske Bank A S acquired a new position in shares of International Bancshares in the 3rd quarter worth approximately $48,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of International Bancshares by 2.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 37,487 shares of the bank’s stock valued at $2,585,000 after acquiring an additional 842 shares during the last quarter. Maltese Capital Management LLC increased its holdings in shares of International Bancshares by 9.4% in the 3rd quarter. Maltese Capital Management LLC now owns 109,400 shares of the bank’s stock valued at $7,521,000 after acquiring an additional 9,400 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of International Bancshares by 2.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 48,735 shares of the bank’s stock valued at $3,350,000 after acquiring an additional 974 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBOC has been the topic of several research analyst reports. Loop Capital set a $85.00 price objective on International Bancshares in a research note on Wednesday, December 31st. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $85.00.

International Bancshares Stock Up 0.2%

NASDAQ:IBOC opened at $67.85 on Friday. The firm has a market capitalization of $4.22 billion, a PE ratio of 10.25 and a beta of 0.72. The stock has a 50 day moving average of $69.59 and a 200-day moving average of $68.68. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $75.44. 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 (NASDAQ:IBOC) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.08. The business had revenue of $217.71 million for the quarter. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 13th. This represents a yield of 203.0%. International Bancshares’s dividend payout ratio (DPR) is currently 22.05%.

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.