StockNews.com Lowers International Bancshares (NASDAQ:IBOC) to Sell

StockNews.com lowered shares of International Bancshares (NASDAQ:IBOC) from a hold rating to a sell rating in a report issued on Friday morning.

International Bancshares Trading Up 1.8 %

Shares of NASDAQ:IBOC opened at $59.42 on Friday. The company’s 50-day moving average price is $54.39 and its two-hundred day moving average price is $51.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. International Bancshares has a one year low of $39.10 and a one year high of $59.54. The stock has a market capitalization of $3.69 billion, a PE ratio of 9.07 and a beta of 0.92.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Monday, February 26th. The bank reported $1.71 EPS for the quarter. The firm had revenue of $211.03 million for the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%.

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $54.22, for a total value of $2,168,800.00. Following the sale, the director now directly owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.45% of the stock is owned by insiders.

Institutional Investors Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC grew its stake in International Bancshares by 13,325.0% in the 4th quarter. TFO Wealth Partners LLC now owns 537 shares of the bank’s stock valued at $29,000 after buying an additional 533 shares during the last quarter. Strs Ohio grew its stake in International Bancshares by 333.3% in the 4th quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after buying an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in International Bancshares by 37.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after buying an additional 711 shares during the last quarter. Covestor Ltd grew its stake in International Bancshares by 69.9% in the 3rd quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock valued at $118,000 after buying an additional 1,118 shares during the last quarter. Finally, Inceptionr LLC acquired a new position in International Bancshares in the 4th quarter valued at about $208,000. 65.91% of the stock is owned by institutional investors.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.