Quest Partners LLC Acquires New Shares in International Bancshares Co. (NASDAQ:IBOC)

Quest Partners LLC bought a new position in International Bancshares Co. (NASDAQ:IBOC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,465 shares of the bank’s stock, valued at approximately $460,000.

Other hedge funds have also added to or reduced their stakes in the company. Strs Ohio boosted its position in shares of International Bancshares by 333.3% in the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in International Bancshares by 37.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after purchasing an additional 711 shares during the period. Covestor Ltd grew its position in shares of International Bancshares by 69.9% during the 3rd quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock valued at $118,000 after purchasing an additional 1,118 shares in the last quarter. Inceptionr LLC bought a new position in shares of International Bancshares in the fourth quarter worth $208,000. Finally, Vest Financial LLC purchased a new stake in shares of International Bancshares in the fourth quarter worth $254,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th.

International Bancshares Stock Down 1.9 %

Shares of NASDAQ IBOC opened at $57.25 on Friday. The business has a 50-day moving average of $56.31 and a 200-day moving average of $52.81. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 8.74 and a beta of 0.92. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 12 month low of $41.96 and a 12 month high of $61.46.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, May 2nd. The bank reported $1.56 EPS for the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%. The firm had revenue of $205.85 million for the quarter.

Insider Activity at International Bancshares

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of International Bancshares stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the completion of the sale, the director now owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of International Bancshares stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the transaction, the director now directly owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The disclosure for this sale can be found here. 13.93% of the stock is owned by insiders.

International Bancshares Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.