Elizabeth Park Capital Advisors Ltd. Buys New Shares in International Bancshares Corporation $IBOC

Elizabeth Park Capital Advisors Ltd. purchased a new position in International Bancshares Corporation (NASDAQ:IBOC) in the third quarter, Holdings Channel.com reports. The firm purchased 51,087 shares of the bank’s stock, valued at approximately $3,512,000. International Bancshares makes up approximately 2.8% of Elizabeth Park Capital Advisors Ltd.’s investment portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of International Bancshares by 7.1% in the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after acquiring an additional 204,536 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of International Bancshares by 2.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,192,298 shares of the bank’s stock worth $145,919,000 after acquiring an additional 50,339 shares during the period. Geode Capital Management LLC grew its position in shares of International Bancshares by 1.0% during the second quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock worth $94,142,000 after purchasing an additional 13,936 shares in the last quarter. First Trust Advisors LP raised its stake in International Bancshares by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after purchasing an additional 18,591 shares during the period. Finally, Azora Capital LP raised its stake in International Bancshares by 15.1% during the 2nd quarter. Azora Capital LP now owns 1,090,166 shares of the bank’s stock valued at $72,561,000 after purchasing an additional 142,937 shares during the period. 65.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

International Bancshares Trading Up 0.2%

IBOC stock opened at $67.48 on Friday. The firm has a fifty day moving average price of $69.94 and a 200 day moving average price of $68.97. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $75.44. The firm has a market cap of $4.20 billion, a PE ratio of 10.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The company had revenue of $217.71 million for the quarter.

International Bancshares Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares’s dividend payout ratio is currently 22.05%.

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.