International Bancshares Corporation $IBOC Position Reduced by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in International Bancshares Corporation (NASDAQ:IBOC) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 502,770 shares of the bank’s stock after selling 13,517 shares during the quarter. ProShare Advisors LLC owned approximately 0.81% of International Bancshares worth $33,404,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of International Bancshares by 101.0% in the 2nd quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock valued at $43,888,000 after acquiring an additional 331,256 shares in the last quarter. Freestone Grove Partners LP purchased a new position in International Bancshares during the 3rd quarter worth approximately $18,330,000. Millennium Management LLC raised its stake in International Bancshares by 56.6% during the 3rd quarter. Millennium Management LLC now owns 603,574 shares of the bank’s stock valued at $41,496,000 after purchasing an additional 218,039 shares during the period. American Century Companies Inc. raised its stake in International Bancshares by 7.1% during the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after purchasing an additional 204,536 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of International Bancshares by 49.1% in the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock valued at $14,497,000 after purchasing an additional 69,466 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Stock Performance

NASDAQ:IBOC opened at $72.42 on Thursday. International Bancshares Corporation has a 1 year low of $61.15 and a 1 year high of $75.44. The firm’s fifty day simple moving average is $69.98 and its 200 day simple moving average is $69.35. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4.50 billion, a PE ratio of 10.81 and a beta of 0.69.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The firm had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Strong 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.