Geode Capital Management LLC Grows Position in International Bancshares Corporation $IBOC

Geode Capital Management LLC increased its stake in International Bancshares Corporation (NASDAQ:IBOC) by 0.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,435,471 shares of the bank’s stock after purchasing an additional 9,496 shares during the quarter. Geode Capital Management LLC’s holdings in International Bancshares were worth $95,385,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. American Century Companies Inc. grew its stake 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 buying an additional 204,536 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in International Bancshares in the 3rd quarter worth $3,512,000. JPMorgan Chase & Co. lifted its holdings in International Bancshares by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after buying an additional 69,466 shares in the last quarter. First Trust Advisors LP lifted its holdings in International Bancshares by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock worth $87,349,000 after buying an additional 18,591 shares in the last quarter. Finally, Azora Capital LP lifted its holdings in International Bancshares by 3.5% in the 3rd quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock worth $77,575,000 after buying an additional 38,195 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, International Bancshares presently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Stock Up 0.1%

IBOC stock opened at $72.98 on Friday. International Bancshares Corporation has a twelve month low of $61.15 and a twelve month high of $75.44. 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 company has a market capitalization of $4.54 billion, a P/E ratio of 10.89 and a beta of 0.68. The firm has a 50 day simple moving average of $71.21 and a 200-day simple moving average of $69.80.

International Bancshares (NASDAQ:IBOC) last released its quarterly 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 company had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million.

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.