Azora Capital LP Purchases 395,984 Shares of International Bancshares Corporation $IBOC

Azora Capital LP grew its position in International Bancshares Corporation (NASDAQ:IBOC) by 35.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,524,345 shares of the bank’s stock after purchasing an additional 395,984 shares during the period. International Bancshares comprises approximately 6.4% of Azora Capital LP’s holdings, making the stock its 3rd biggest holding. Azora Capital LP owned about 2.45% of International Bancshares worth $101,277,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in International Bancshares by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after purchasing an additional 204,536 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new position in International Bancshares in the 3rd quarter valued at $3,512,000. JPMorgan Chase & Co. raised its position in International Bancshares by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock valued at $14,497,000 after purchasing an additional 69,466 shares during the last quarter. First Trust Advisors LP raised its position in International Bancshares by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after purchasing an additional 18,591 shares during the last quarter. Finally, Maltese Capital Management LLC raised its position in International Bancshares by 9.4% in the 3rd quarter. Maltese Capital Management LLC now owns 109,400 shares of the bank’s stock valued at $7,521,000 after purchasing an additional 9,400 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares Trading Down 2.5%

IBOC stock opened at $73.59 on Thursday. The company has a market cap of $4.58 billion, a P/E ratio of 10.98 and a beta of 0.68. International Bancshares Corporation has a twelve month low of $61.45 and a twelve month high of $77.11. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $72.38 and a 200-day moving average of $70.37.

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

International Bancshares 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.