International Bancshares (NASDAQ:IBOC) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

International Bancshares (NASDAQ:IBOC) posted its quarterly earnings results on Thursday. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04), Zacks reports. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The business had revenue of $208.46 million during the quarter, compared to analysts’ expectations of $280.20 million.

International Bancshares Price Performance

IBOC traded up $0.01 on Friday, hitting $73.27. 284,695 shares of the company were exchanged, compared to its average volume of 355,245. International Bancshares has a fifty-two week low of $61.15 and a fifty-two week high of $75.44. 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 firm has a market capitalization of $4.56 billion, a P/E ratio of 11.07 and a beta of 0.69. The business’s fifty day moving average is $69.29 and its 200 day moving average is $69.03.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares presently has a consensus rating of “Buy” and a consensus price target of $85.00.

Institutional Investors Weigh In On International Bancshares

Several institutional investors have recently modified their holdings of the company. Cetera Investment Advisers increased its stake in International Bancshares by 5.3% in the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock valued at $242,000 after purchasing an additional 184 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in International Bancshares by 64.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock worth $52,000 after purchasing an additional 306 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in International Bancshares by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock worth $156,000 after purchasing an additional 341 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in International Bancshares by 3.2% in the second quarter. BNP Paribas Financial Markets now owns 13,015 shares of the bank’s stock valued at $866,000 after purchasing an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

About International Bancshares

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.