International Bancshares (NASDAQ:IBOC) Issues Earnings Results

International Bancshares (NASDAQ:IBOC) released its quarterly earnings data 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%.The business had revenue of $217.71 million during the quarter.

International Bancshares Stock Down 3.1%

IBOC traded down $2.21 during trading on Friday, hitting $68.57. 52,039 shares of the company’s stock were exchanged, compared to its average volume of 267,449. International Bancshares has a fifty-two week low of $54.11 and a fifty-two week high of $75.44. The stock has a market cap of $4.26 billion, a P/E ratio of 10.14 and a beta of 0.73. The business’s 50 day moving average is $70.08 and its two-hundred day moving average is $69.15. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04.

International Bancshares Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.73 per share. This represents a yield of 203.0%. The ex-dividend date is Friday, February 13th. International Bancshares’s payout ratio is 21.60%.

Wall Street Analyst Weigh In

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

Institutional Trading of International Bancshares

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its stake 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 buying an additional 70,193 shares during the period. Invesco Ltd. boosted its holdings 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 buying an additional 6,151 shares during the period. Mackenzie Financial Corp grew its stake in International Bancshares by 109.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,754 shares of the bank’s stock valued at $585,000 after buying an additional 4,565 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of International Bancshares by 48.2% during the fourth quarter. Voloridge Investment Management LLC now owns 133,849 shares of the bank’s stock worth $8,893,000 after acquiring an additional 43,522 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of International Bancshares during the 4th quarter valued at $242,000. 65.91% of the stock is currently owned by institutional investors.

About International Bancshares

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.