International Bancshares (NASDAQ:IBOC) Posts Quarterly Earnings Results

International Bancshares (NASDAQ:IBOC) released its earnings results on Thursday. The bank reported $1.74 earnings per share for the quarter, Zacks reports. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.The business had revenue of $218.08 million for the quarter.

International Bancshares Price Performance

NASDAQ:IBOC traded down $0.13 on Friday, reaching $67.18. The stock had a trading volume of 198,590 shares, compared to its average volume of 250,537. The company has a market capitalization of $4.18 billion, a P/E ratio of 10.15 and a beta of 0.82. The stock has a fifty day moving average price of $68.61 and a 200-day moving average price of $67.20. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares has a 1-year low of $54.11 and a 1-year high of $76.91.

Hedge Funds Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of IBOC. AQR Capital Management LLC raised its holdings in shares of International Bancshares by 101.0% in the second quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock valued at $43,888,000 after buying an additional 331,256 shares during the last quarter. Jane Street Group LLC raised its stake in shares of International Bancshares by 202.9% during the first quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock worth $5,828,000 after buying an additional 61,905 shares during the last quarter. Bank of America Corp DE boosted its stake in International Bancshares by 24.5% in the second quarter. Bank of America Corp DE now owns 114,598 shares of the bank’s stock valued at $7,628,000 after acquiring an additional 22,586 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in International Bancshares by 1.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock worth $34,554,000 after acquiring an additional 6,909 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of International Bancshares during the 2nd quarter valued at $355,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares currently has an average rating of “Buy”.

About International Bancshares

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.