Elizabeth Park Capital Advisors Ltd. Purchases 10,500 Shares of International Bancshares Corporation $IBOC

Elizabeth Park Capital Advisors Ltd. increased its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 20.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,587 shares of the bank’s stock after purchasing an additional 10,500 shares during the quarter. International Bancshares accounts for about 3.4% of Elizabeth Park Capital Advisors Ltd.’s holdings, making the stock its 6th largest holding. Elizabeth Park Capital Advisors Ltd.’s holdings in International Bancshares were worth $4,092,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Engineers Gate Manager LP boosted its position in International Bancshares by 338.6% during the fourth quarter. Engineers Gate Manager LP now owns 27,085 shares of the bank’s stock worth $1,800,000 after purchasing an additional 20,910 shares in the last quarter. Azora Capital LP boosted its position in International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after purchasing an additional 395,984 shares in the last quarter. Armistice Capital LLC purchased a new position in International Bancshares during the fourth quarter worth approximately $291,000. Schonfeld Strategic Advisors LLC purchased a new position in International Bancshares during the fourth quarter worth approximately $216,000. Finally, Cetera Investment Advisers boosted its position in International Bancshares by 5.3% during the fourth quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock worth $242,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, International Bancshares currently has a consensus rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares Stock Down 2.5%

Shares of NASDAQ IBOC opened at $73.59 on Thursday. The company’s 50-day simple moving average is $72.38 and its 200-day simple moving average is $70.37. International Bancshares Corporation has a 52-week low of $61.45 and a 52-week high of $77.11. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 10.98 and a beta of 0.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

International Bancshares (NASDAQ:IBOC) last announced its 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 company had revenue of $208.46 million during the quarter, compared to analyst estimates of $257.28 million.

About International Bancshares

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.