Y Intercept Hong Kong Ltd Purchases 12,210 Shares of International Bancshares Corporation $IBOC

Y Intercept Hong Kong Ltd lifted its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 35.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,226 shares of the bank’s stock after acquiring an additional 12,210 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.07% of International Bancshares worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of 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 buying an additional 69,466 shares during the period. Elizabeth Park Capital Advisors Ltd. bought a new stake in International Bancshares during the 3rd quarter valued at $3,512,000. Azora Capital LP grew its holdings in shares of International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock valued at $101,277,000 after buying an additional 395,984 shares during the last quarter. First Trust Advisors LP increased its position in shares of International Bancshares by 1.5% during the third quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock worth $87,349,000 after acquiring an additional 18,591 shares in the last quarter. Finally, Maltese Capital Management LLC boosted its stake in International Bancshares by 9.4% during 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. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Price Performance

IBOC stock traded up $0.30 during mid-day trading on Tuesday, reaching $76.41. 46,400 shares of the company traded hands, compared to its average volume of 363,003. The company has a fifty day moving average price of $73.56 and a 200-day moving average price of $70.93. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46. The company has a market capitalization of $4.75 billion, a P/E ratio of 11.40 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 (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The firm had revenue of $208.46 million for the quarter, compared to analysts’ expectations of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of $85.00.

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.