International Bancshares Corporation (IBOC) Issues Quarterly Earnings Results
International Bancshares Corporation (NASDAQ:IBOC) issued its earnings results on Monday. The bank reported $0.61 earnings per share (EPS) for the quarter, Bloomberg Earnings reports.
International Bancshares Corporation (NASDAQ IBOC) traded up 2.95% during trading on Tuesday, hitting $36.70. The stock had a trading volume of 67,689 shares. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 18.35 and a beta of 1.52. The stock’s 50-day moving average is $35.29 and its 200 day moving average is $36.05. International Bancshares Corporation has a one year low of $25.78 and a one year high of $42.25.
Separately, BidaskClub cut International Bancshares Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.
International Bancshares Corporation declared that its board has authorized a share repurchase program on Friday, April 21st that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, VP R David Guerra sold 1,875 shares of International Bancshares Corporation stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $36.04, for a total value of $67,575.00. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at $90,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 17.93% of the stock is owned by insiders.
International Bancshares Corporation Company Profile
International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
Receive News & Ratings for International Bancshares Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Bancshares Corporation and related companies with MarketBeat.com's FREE daily email newsletter.