International Bancshares (NASDAQ:IBOC) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

International Bancshares (NASDAQ:IBOC) issued its quarterly earnings results on Thursday. The bank reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07), Zacks reports. International Bancshares had a return on equity of 12.82% and a net margin of 38.83%.The company had revenue of $214.82 million for the quarter, compared to analyst estimates of $266.36 million.

International Bancshares Price Performance

Shares of International Bancshares stock traded down $1.56 during trading on Friday, reaching $73.55. The company’s stock had a trading volume of 402,481 shares, compared to its average volume of 300,106. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares has a 12-month low of $63.19 and a 12-month high of $78.46. The company has a market capitalization of $4.57 billion, a P/E ratio of 11.09 and a beta of 0.69. The business has a 50 day moving average price of $75.39 and a 200-day moving average price of $72.11.

International Bancshares Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.73 dividend. This represents a dividend yield of 192.0%. The ex-dividend date of this dividend is Friday, August 14th. International Bancshares’s dividend payout ratio (DPR) is currently 21.79%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBOC. Quadrant Capital Group LLC boosted its position in shares of International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of International Bancshares during the 4th quarter worth $47,000. Danske Bank A S purchased a new position in shares of International Bancshares in the 3rd quarter valued at about $48,000. CIBC Private Wealth Group LLC increased its holdings in shares of International Bancshares by 64.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock valued at $52,000 after purchasing an additional 306 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of International Bancshares in the 3rd quarter valued at about $89,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

About International Bancshares

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.