International Bancshares (NASDAQ:IBOC) Sets New 1-Year High – What’s Next?

International Bancshares Corporation (NASDAQ:IBOC) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $77.24 and last traded at $77.25, with a volume of 24783 shares. The stock had previously closed at $76.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, International Bancshares presently has an average rating of “Strong Buy” and a consensus price target of $85.00.

International Bancshares Stock Up 0.7%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $4.79 billion, a P/E ratio of 11.49 and a beta of 0.68. The stock has a fifty day moving average price of $72.78 and a 200 day moving average price of $70.64.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings results 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). The company had revenue of $208.46 million for the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Institutional Investors Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its position in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after buying an additional 402 shares in the last quarter. Hantz Financial Services Inc. lifted its position in International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC boosted its position in International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after buying an additional 232 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of International Bancshares during the fourth quarter worth about $47,000. Finally, Danske Bank A S bought a new stake in shares of International Bancshares in the 3rd quarter worth approximately $48,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

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.