International Bancshares (NASDAQ:IBOC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, September 18th, BidAskClub reports.
Separately, ValuEngine lowered shares of International Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.
Shares of IBOC traded up $0.65 on Wednesday, hitting $38.50. 182,229 shares of the stock traded hands, compared to its average volume of 221,865. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.45 billion, a P/E ratio of 11.67 and a beta of 1.33. The stock’s 50 day moving average is $37.46 and its two-hundred day moving average is $37.91. International Bancshares has a 1 year low of $32.04 and a 1 year high of $42.32.
International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, August 8th. The bank reported $0.76 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 32.82% and a return on equity of 10.79%.
In other International Bancshares news, Director Roberto R. Resendez acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $32.40 per share, with a total value of $129,600.00. Following the completion of the transaction, the director now directly owns 16,730 shares of the company’s stock, valued at $542,052. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC grew its holdings in International Bancshares by 144.1% during the 3rd quarter. Denali Advisors LLC now owns 55,900 shares of the bank’s stock valued at $2,159,000 after purchasing an additional 33,000 shares in the last quarter. State of Alaska Department of Revenue bought a new position in International Bancshares during the 3rd quarter valued at $396,000. Royal Bank of Canada boosted its stake in International Bancshares by 1,890.9% during the 2nd quarter. Royal Bank of Canada now owns 21,442 shares of the bank’s stock valued at $809,000 after acquiring an additional 20,365 shares during the last quarter. United Services Automobile Association lifted its position in shares of International Bancshares by 2.6% in the 2nd quarter. United Services Automobile Association now owns 335,394 shares of the bank’s stock worth $12,648,000 after buying an additional 8,555 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of International Bancshares in the 2nd quarter worth about $9,174,000. 59.70% of the stock is owned by institutional investors and hedge funds.
About International Bancshares
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.
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