International Bancshares (NASDAQ:IBOC) Issues Earnings Results

International Bancshares (NASDAQ:IBOC) issued its quarterly earnings results on Thursday. The bank reported $1.71 earnings per share (EPS) for the quarter, Zacks reports. International Bancshares had a return on equity of 14.20% and a net margin of 40.10%.

International Bancshares Trading Up 1.1%

Shares of International Bancshares stock traded up $0.74 during trading on Thursday, hitting $70.60. The stock had a trading volume of 145,655 shares, compared to its average volume of 268,966. International Bancshares has a 1 year low of $54.11 and a 1 year high of $75.44. The stock has a 50 day simple moving average of $70.10 and a 200 day simple moving average of $69.14. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.39 billion, a PE ratio of 10.44 and a beta of 0.73.

International Bancshares Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.73 dividend. This represents a dividend yield of 203.0%. The ex-dividend date of this dividend is Friday, February 13th. International Bancshares’s dividend payout ratio (DPR) is 21.60%.

Hedge Funds Weigh In On International Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of International Bancshares by 6.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,091,549 shares of the bank’s stock valued at $72,523,000 after purchasing an additional 70,193 shares in the last quarter. Invesco Ltd. lifted its stake in International Bancshares by 2.4% in the 4th quarter. Invesco Ltd. now owns 267,517 shares of the bank’s stock worth $17,774,000 after acquiring an additional 6,151 shares in the last quarter. Mackenzie Financial Corp boosted its position in International Bancshares by 109.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,754 shares of the bank’s stock worth $585,000 after acquiring an additional 4,565 shares during the period. Voloridge Investment Management LLC grew its stake in International Bancshares by 48.2% during the 4th quarter. Voloridge Investment Management LLC now owns 133,849 shares of the bank’s stock valued at $8,893,000 after acquiring an additional 43,522 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in International Bancshares during the 4th quarter valued at about $242,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBOC. Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 price target on shares of International Bancshares in a research report on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.00.

International Bancshares Company 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.