International Bancshares Corporation $IBOC Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 365,627 shares of the bank’s stock after selling 11,978 shares during the quarter. ProShare Advisors LLC’s holdings in International Bancshares were worth $25,044,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IBOC. Hsbc Holdings PLC acquired a new stake in shares of International Bancshares in the 2nd quarter valued at about $2,421,000. Legal & General Group Plc bought a new stake in International Bancshares in the second quarter valued at about $5,307,000. Walleye Capital LLC acquired a new stake in International Bancshares during the second quarter valued at approximately $15,249,000. BlackRock Inc. acquired a new stake in International Bancshares during the second quarter valued at approximately $535,310,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in International Bancshares during the 2nd quarter worth approximately $3,287,000. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Trading Up 3.0%

NASDAQ IBOC opened at $68.89 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. International Bancshares Corporation has a one year low of $63.19 and a one year high of $78.46. The company has a 50-day simple moving average of $69.12 and a 200-day simple moving average of $71.35. The firm has a market capitalization of $4.28 billion, a PE ratio of 9.98 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). The business had revenue of $214.82 million for the quarter, compared to analyst estimates of $264.13 million. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, International Bancshares currently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.