International Bancshares Corporation $IBOC Shares Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. raised its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 150,593 shares of the bank’s stock after acquiring an additional 14,454 shares during the quarter. Kovack Advisors Inc.’s holdings in International Bancshares were worth $10,076,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of International Bancshares by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after purchasing an additional 204,536 shares in the last quarter. Geode Capital Management LLC increased its holdings in International Bancshares by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank’s stock valued at $95,385,000 after buying an additional 9,496 shares during the last quarter. First Trust Advisors LP increased its holdings in International Bancshares by 1.5% in the third quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after buying an additional 18,591 shares during the last quarter. Azora Capital LP raised its stake in International Bancshares by 3.5% during the third quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock valued at $77,575,000 after buying an additional 38,195 shares in the last quarter. Finally, Reinhart Partners LLC. grew its position in shares of International Bancshares by 10.8% in the 4th quarter. Reinhart Partners LLC. now owns 739,340 shares of the bank’s stock worth $49,123,000 after acquiring an additional 72,025 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $85.00.

International Bancshares Trading Up 0.5%

NASDAQ IBOC opened at $75.67 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. International Bancshares Corporation has a one year low of $61.15 and a one year high of $75.99. The company has a 50-day simple moving average of $71.79 and a 200-day simple moving average of $70.12. The firm has a market capitalization of $4.71 billion, a PE ratio of 11.29 and a beta of 0.68.

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

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.