International Bancshares (NASDAQ:IBOC) Sets New 12-Month High – Here’s Why

International Bancshares Corporation (NASDAQ:IBOC)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $74.42 and last traded at $74.0940, with a volume of 17505 shares. The stock had previously closed at $72.43.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 price objective on International Bancshares in a research report on Wednesday, December 31st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $85.00.

International Bancshares Trading Up 2.7%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 11.00 and a beta of 0.73. The firm’s fifty day moving average is $69.26 and its 200-day moving average is $68.81.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Thursday, November 6th. The bank reported $1.74 earnings per share for the quarter. The firm had revenue of $218.08 million during the quarter. International Bancshares had a return on equity of 14.20% and a net margin of 40.10%.

International Bancshares Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date is Friday, February 13th. International Bancshares’s dividend payout ratio is presently 20.71%.

Institutional Trading of International Bancshares

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in International Bancshares by 2.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,298 shares of the bank’s stock valued at $145,919,000 after buying an additional 50,339 shares in the last quarter. Geode Capital Management LLC boosted its holdings in International Bancshares by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock worth $94,142,000 after acquiring an additional 13,936 shares in the last quarter. Boston Trust Walden Corp grew its stake in International Bancshares by 0.5% in the second quarter. Boston Trust Walden Corp now owns 1,405,068 shares of the bank’s stock valued at $93,521,000 after acquiring an additional 7,019 shares during the period. Finally, First Trust Advisors LP increased its stake in International Bancshares by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after purchasing an additional 18,591 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

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.