Weiss Asset Management LP Takes $1.42 Million Position in International Bancshares Corporation $IBOC

Weiss Asset Management LP acquired a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 21,120 shares of the bank’s stock, valued at approximately $1,421,000.

Several other institutional investors have also recently modified their holdings of the stock. Azora Capital LP increased its position in International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after buying an additional 395,984 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of International Bancshares in the fourth quarter worth $1,500,000. Fieldview Capital Management LLC lifted its position in shares of International Bancshares by 153.0% in the fourth quarter. Fieldview Capital Management LLC now owns 23,545 shares of the bank’s stock valued at $1,564,000 after acquiring an additional 14,239 shares in the last quarter. Norges Bank purchased a new stake in shares of International Bancshares in the fourth quarter valued at $45,598,000. Finally, Elizabeth Park Capital Advisors Ltd. boosted its stake in shares of International Bancshares by 20.6% during the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 61,587 shares of the bank’s stock valued at $4,092,000 after acquiring an additional 10,500 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Stock Down 0.2%

Shares of NASDAQ IBOC opened at $76.65 on Tuesday. The firm has a market cap of $4.77 billion, a P/E ratio of 11.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. International Bancshares Corporation has a 1 year low of $63.19 and a 1 year high of $78.46. The firm’s 50 day moving average price is $74.73 and its 200 day moving average price is $71.71.

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $85.00.

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.