31,760 Shares in International Bancshares Corporation $IBOC Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,760 shares of the bank’s stock, valued at approximately $2,421,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Azora Capital LP grew its stake in shares of International Bancshares by 35.1% in the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after purchasing an additional 395,984 shares during the last quarter. Lazard Asset Management LLC acquired a new position in International Bancshares during the 1st quarter worth about $1,741,000. BlackRock Inc. bought a new stake in shares of International Bancshares in the 2nd quarter valued at about $535,310,000. Fieldview Capital Management LLC grew its position in shares of International Bancshares by 153.0% in the 4th quarter. Fieldview Capital Management LLC now owns 23,545 shares of the bank’s stock valued at $1,564,000 after buying an additional 14,239 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of International Bancshares in the first quarter valued at about $1,421,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, International Bancshares presently has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares Price Performance

International Bancshares stock opened at $70.93 on Monday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 10.70 and a beta of 0.69. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50 day moving average price is $74.84 and its two-hundred day moving average price is $72.22.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). The company had revenue of $214.82 million during the quarter, compared to the consensus estimate of $264.13 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Announces Dividend

The company also recently announced a dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares’s dividend payout ratio (DPR) is currently 22.02%.

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.