Maltese Capital Management LLC Buys 34,400 Shares of International Bancshares Corporation $IBOC

Maltese Capital Management LLC raised its position in International Bancshares Corporation (NASDAQ:IBOC) by 31.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 143,800 shares of the bank’s stock after purchasing an additional 34,400 shares during the quarter. International Bancshares accounts for 1.7% of Maltese Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Maltese Capital Management LLC’s holdings in International Bancshares were worth $9,554,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IBOC. Hantz Financial Services Inc. grew its stake in shares of International Bancshares by 82.5% during the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after buying an additional 232 shares during the period. Rothschild Investment LLC raised its position in shares of International Bancshares by 554.4% in the 3rd quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock valued at $40,000 after acquiring an additional 499 shares during the period. Meeder Asset Management Inc. bought a new position in shares of International Bancshares during the fourth quarter worth $47,000. Finally, Danske Bank A S bought a new position in International Bancshares during the third quarter worth about $48,000. Institutional investors own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $85.00.

International Bancshares Stock Down 1.9%

Shares of International Bancshares stock opened at $75.09 on Tuesday. The stock’s 50-day moving average is $72.11 and its 200 day moving average is $70.25. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 11.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. International Bancshares Corporation has a one year low of $61.15 and a one year high of $77.11.

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

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.