International Bancshares (NASDAQ:IBOC) Issues Quarterly Earnings Results

International Bancshares (NASDAQ:IBOC) posted its quarterly earnings data on Thursday. The bank reported $1.71 EPS for the quarter, Zacks reports. International Bancshares had a net margin of 40.10% and a return on equity of 14.20%.

International Bancshares Stock Performance

Shares of IBOC traded up $0.74 during mid-day trading on Thursday, reaching $70.60. 145,655 shares of the company’s stock traded hands, compared to its average volume of 268,966. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day moving average price is $70.10 and its 200-day moving average price is $69.14. The stock has a market capitalization of $4.39 billion, a P/E ratio of 10.44 and a beta of 0.73. International Bancshares has a 12 month low of $54.11 and a 12 month high of $75.44.

International Bancshares Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date of this dividend is Friday, February 13th. International Bancshares’s payout ratio is 21.60%.

Institutional Trading of International Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Bancshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,200 shares of the bank’s stock worth $2,031,000 after purchasing an additional 1,414 shares in the last quarter. Goldman Sachs Group Inc. grew its position in International Bancshares by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock valued at $34,554,000 after buying an additional 6,909 shares in the last quarter. United Services Automobile Association acquired a new position in International Bancshares during the 1st quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of International Bancshares by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 167,376 shares of the bank’s stock worth $10,555,000 after buying an additional 3,689 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of International Bancshares by 202.9% during the 1st quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock worth $5,828,000 after buying an additional 61,905 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

Wall Street Analyst Weigh In

IBOC has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. Loop Capital set a $85.00 price objective on International Bancshares in a research note on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, International Bancshares presently has a consensus rating of “Buy” and a consensus price target of $85.00.

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.