ProShare Advisors LLC Has $33.40 Million Holdings in International Bancshares Corporation $IBOC

ProShare Advisors LLC trimmed its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 502,770 shares of the bank’s stock after selling 13,517 shares during the quarter. ProShare Advisors LLC’s holdings in International Bancshares were worth $33,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in International Bancshares by 7.1% during the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after purchasing an additional 204,536 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in International Bancshares in the 3rd quarter worth $3,512,000. JPMorgan Chase & Co. grew its position in International Bancshares by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after purchasing an additional 69,466 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of International Bancshares by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock worth $87,349,000 after purchasing an additional 18,591 shares during the period. Finally, Azora Capital LP increased its holdings in shares of International Bancshares by 3.5% during the 3rd quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock worth $77,575,000 after purchasing an additional 38,195 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of NASDAQ:IBOC opened at $72.42 on Thursday. The firm has a market capitalization of $4.50 billion, a PE ratio of 10.81 and a beta of 0.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 1-year low of $61.15 and a 1-year high of $75.44. The business’s 50 day moving average is $69.98 and its 200-day moving average is $69.35.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The firm had revenue of $208.46 million during the quarter, compared to analyst estimates of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Strong 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.