Intech Investment Management LLC Lowers Stock Holdings in International Bancshares Corporation $IBOC

Intech Investment Management LLC cut its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 36.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,182 shares of the bank’s stock after selling 17,649 shares during the quarter. Intech Investment Management LLC’s holdings in International Bancshares were worth $2,009,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in International Bancshares in the 1st quarter valued at $1,133,000. Cetera Investment Advisers lifted its holdings in International Bancshares by 9.2% during the first quarter. Cetera Investment Advisers now owns 3,665 shares of the bank’s stock valued at $231,000 after purchasing an additional 308 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of International Bancshares in the first quarter valued at about $386,000. Charles Schwab Investment Management Inc. grew its position in shares of International Bancshares by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank’s stock valued at $135,072,000 after purchasing an additional 63,791 shares during the period. Finally, Cresta Advisors Ltd. increased its stake in shares of International Bancshares by 11.3% during the first quarter. Cresta Advisors Ltd. now owns 62,762 shares of the bank’s stock worth $3,958,000 after purchasing an additional 6,367 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Trading Up 2.9%

Shares of IBOC stock opened at $66.39 on Friday. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s fifty day moving average is $67.40 and its two-hundred day moving average is $67.45. The firm has a market capitalization of $4.13 billion, a P/E ratio of 10.03 and a beta of 0.82.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, November 6th. The bank reported $1.74 EPS for the quarter. The business had revenue of $218.08 million during the quarter. International Bancshares had a net margin of 39.51% and a return on equity of 14.37%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares currently has a consensus rating of “Buy”.

International Bancshares Profile

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.