Geode Capital Management LLC Boosts Stock Position in International Bancshares Corporation $IBOC

Geode Capital Management LLC increased its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,435,471 shares of the bank’s stock after purchasing an additional 9,496 shares during the quarter. Geode Capital Management LLC owned approximately 2.31% of International Bancshares worth $95,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after purchasing an additional 221 shares in the last quarter. Rothschild Investment LLC increased its position in International Bancshares by 554.4% during the 3rd quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock worth $40,000 after purchasing an additional 499 shares in the last quarter. Danske Bank A S purchased a new stake in International Bancshares during the 3rd quarter worth about $48,000. Aquatic Capital Management LLC purchased a new stake in International Bancshares during the 3rd quarter worth about $89,000. Finally, Exchange Traded Concepts LLC purchased a new stake in International Bancshares during the 4th quarter worth about $96,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

International Bancshares Stock Up 0.1%

Shares of NASDAQ:IBOC opened at $72.98 on Friday. The stock’s 50-day moving average price is $71.21 and its two-hundred day moving average price is $69.80. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 12-month low of $61.15 and a 12-month high of $75.44. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 10.89 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during 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.