Reinhart Partners LLC. Purchases 72,025 Shares of International Bancshares Corporation $IBOC

Reinhart Partners LLC. raised its position in International Bancshares Corporation (NASDAQ:IBOC) by 10.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 739,340 shares of the bank’s stock after buying an additional 72,025 shares during the quarter. Reinhart Partners LLC.’s holdings in International Bancshares were worth $49,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IBOC. Hantz Financial Services Inc. increased its holdings in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the period. Rothschild Investment LLC increased its holdings in International Bancshares by 554.4% in the 3rd quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock valued at $40,000 after buying an additional 499 shares during the period. Danske Bank A S bought a new position in International Bancshares in the 3rd quarter valued at about $48,000. Aquatic Capital Management LLC bought a new position in International Bancshares in the 3rd quarter valued at about $89,000. Finally, Exchange Traded Concepts LLC bought a new position in International Bancshares in the 4th quarter valued at about $96,000. 65.91% of the stock is owned by institutional investors.

International Bancshares Trading Up 1.5%

Shares of IBOC opened at $71.99 on Wednesday. International Bancshares Corporation has a 52-week low of $61.15 and a 52-week high of $75.44. The business’s fifty day moving average is $70.82 and its 200-day moving average is $69.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 10.74 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.