New York State Teachers Retirement System Sells 20,920 Shares of International Bancshares Corporation $IBOC

New York State Teachers Retirement System lowered its stake in International Bancshares Corporation (NASDAQ:IBOC) by 24.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 64,017 shares of the bank’s stock after selling 20,920 shares during the period. New York State Teachers Retirement System’s holdings in International Bancshares were worth $4,308,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IBOC. Rockefeller Capital Management L.P. increased its stake in International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. raised its holdings in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of International Bancshares in the 4th quarter valued at about $47,000. Finally, Danske Bank A S acquired a new stake in International Bancshares during the 3rd quarter valued at approximately $48,000. Institutional investors own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

International Bancshares Stock Down 1.8%

Shares of NASDAQ IBOC opened at $74.61 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $73.71 and a 200-day moving average of $70.99. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 11.14 and a beta of 0.68. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). International Bancshares had a net margin of 39.33% and a return on equity of 13.16%. The company had revenue of $208.46 million during the quarter, compared to analysts’ expectations of $257.28 million.

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.