International Bancshares Corporation $IBOC Shares Sold by UBS Group AG

UBS Group AG lowered its stake in International Bancshares Corporation (NASDAQ:IBOC) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,632 shares of the bank’s stock after selling 11,967 shares during the period. UBS Group AG’s holdings in International Bancshares were worth $8,413,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in International Bancshares by 101.0% during the second 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 period. Freestone Grove Partners LP acquired a new position in International Bancshares during the third quarter worth $18,330,000. Millennium Management LLC grew its holdings in International Bancshares by 56.6% during the third quarter. Millennium Management LLC now owns 603,574 shares of the bank’s stock worth $41,496,000 after acquiring an additional 218,039 shares during the period. American Century Companies Inc. grew its holdings in International Bancshares by 7.1% during the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock worth $212,453,000 after acquiring an additional 204,536 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in International Bancshares by 49.1% during the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after acquiring an additional 69,466 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Stock Performance

Shares of IBOC stock opened at $70.83 on Monday. The business’s fifty day moving average price is $69.67 and its 200 day moving average price is $69.24. International Bancshares Corporation has a 1-year low of $61.15 and a 1-year high of $75.44. The firm has a market capitalization of $4.40 billion, a PE ratio of 10.57 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC) last posted 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 for the quarter, compared to analysts’ expectations of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.

Analyst Ratings Changes

Separately, Weiss Ratings raised International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares 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.