Vanguard Group Inc. Has $413.20 Million Stock Holdings in International Bancshares Corporation $IBOC

Vanguard Group Inc. cut its stake in International Bancshares Corporation (NASDAQ:IBOC) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,219,187 shares of the bank’s stock after selling 83,799 shares during the quarter. Vanguard Group Inc. owned about 0.10% of International Bancshares worth $413,203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in International Bancshares by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after acquiring an additional 204,536 shares in the last quarter. First Trust Advisors LP grew its position in 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 acquiring an additional 18,591 shares during the last quarter. Azora Capital LP grew its position in 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 acquiring an additional 38,195 shares during the last quarter. AQR Capital Management LLC grew its position in International Bancshares by 101.0% during the 2nd quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock worth $43,888,000 after acquiring an additional 331,256 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of International Bancshares by 56.6% in the 3rd quarter. Millennium Management LLC now owns 603,574 shares of the bank’s stock valued at $41,496,000 after buying an additional 218,039 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Stock Up 1.1%

Shares of International Bancshares stock opened at $72.56 on Thursday. International Bancshares Corporation has a one year low of $61.15 and a one year high of $75.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50-day moving average is $69.20 and its 200 day moving average is $68.97. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 10.96 and a beta of 0.69.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, February 26th. The bank reported $1.71 EPS for the quarter, beating the consensus estimate of $1.63 by $0.08. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.The company had revenue of $217.71 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, International Bancshares has an average rating of “Buy” and an average price target 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.