International Bancshares (NASDAQ:IBOC) Announces Earnings Results

International Bancshares (NASDAQ:IBOC) announced its quarterly earnings results on Thursday. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04), Zacks reports. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The company had revenue of $208.46 million during the quarter, compared to the consensus estimate of $280.20 million.

International Bancshares Stock Up 0.0%

Shares of IBOC stock traded up $0.01 on Friday, hitting $73.27. 284,695 shares of the stock were exchanged, compared to its average volume of 355,245. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4.56 billion, a P/E ratio of 11.07 and a beta of 0.69. International Bancshares has a fifty-two week low of $61.15 and a fifty-two week high of $75.44. The business has a 50-day moving average of $69.29 and a 200 day moving average of $69.03.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew its stake in shares of International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after buying an additional 232 shares in the last quarter. Danske Bank A S acquired a new stake in International Bancshares during the 3rd quarter valued at $48,000. Meeder Asset Management Inc. bought a new position in International Bancshares during the fourth quarter worth $47,000. CIBC Private Wealth Group LLC increased its holdings in shares of International Bancshares by 64.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock valued at $52,000 after purchasing an additional 306 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in International Bancshares in the 3rd quarter valued at about $89,000. 65.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.