International Bancshares (TXSE:IBOC) Issues Earnings Results, Beats Estimates By $0.26 EPS

International Bancshares (TXSE:IBOC) issued its quarterly earnings data on Thursday. The bank reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.26, FiscalAI reports. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%. The business had revenue of $228.90 million during the quarter, compared to analyst estimates of $273.45 million.

International Bancshares Trading Down 1.0%

International Bancshares stock traded down $0.70 during mid-day trading on Friday, hitting $67.60. 241,162 shares of the stock were exchanged, compared to its average volume of 355,655. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.20 and a beta of 0.70. International Bancshares has a 12 month low of $63.19 and a 12 month high of $78.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $68.96 and its two-hundred day simple moving average is $71.32.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.00.

About International Bancshares

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.