Hsbc Holdings PLC Purchases New Shares in International Bancshares Corporation $IBOC

Hsbc Holdings PLC purchased a new position in International Bancshares Corporation (NASDAQ:IBOC) during the fourth quarter, Holdings Channel.com reports. The firm purchased 22,500 shares of the bank’s stock, valued at approximately $1,500,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBOC. Rockefeller Capital Management L.P. raised its holdings in shares of International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. grew its position in International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after purchasing an additional 221 shares in the last quarter. Quadrant Capital Group LLC raised its stake in International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after purchasing an additional 232 shares during the period. Danske Bank A S purchased a new stake in shares of International Bancshares in the third quarter valued at $48,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of International Bancshares in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Stock Up 0.4%

IBOC traded up $0.27 on Friday, reaching $75.42. 216,877 shares of the company traded hands, compared to its average volume of 435,844. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 11.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50 day moving average price is $73.85 and its 200-day moving average price is $71.05. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.