Azora Capital LP Has $101.28 Million Position in International Bancshares Corporation $IBOC

Azora Capital LP raised its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 35.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,524,345 shares of the bank’s stock after acquiring an additional 395,984 shares during the period. International Bancshares accounts for about 6.4% of Azora Capital LP’s portfolio, making the stock its 3rd biggest position. Azora Capital LP’s holdings in International Bancshares were worth $101,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Armistice Capital LLC acquired a new position in International Bancshares in the fourth quarter valued at about $291,000. Schonfeld Strategic Advisors LLC acquired a new position in International Bancshares in the fourth quarter valued at about $216,000. Cetera Investment Advisers grew its stake in International Bancshares by 5.3% in the fourth quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock valued at $242,000 after acquiring an additional 184 shares during the period. Abel Hall LLC acquired a new position in International Bancshares in the fourth quarter valued at about $275,000. Finally, Kovack Advisors Inc. grew its stake in International Bancshares by 10.6% in the fourth quarter. Kovack Advisors Inc. now owns 150,593 shares of the bank’s stock valued at $10,005,000 after acquiring an additional 14,454 shares during the period. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Stock Down 2.5%

NASDAQ:IBOC opened at $73.59 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 10.98 and a beta of 0.68. The stock has a 50-day moving average price of $72.38 and a two-hundred day moving average price of $70.37. International Bancshares Corporation has a 1 year low of $61.45 and a 1 year high of $77.11.

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

Analysts Set New Price Targets

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

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.