International Bancshares Corporation $IBOC Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in International Bancshares Corporation (NASDAQ:IBOC) by 49.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,864 shares of the bank’s stock after acquiring an additional 69,466 shares during the period. JPMorgan Chase & Co. owned 0.34% of International Bancshares worth $14,497,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IBOC. Oppenheimer Asset Management Inc. lifted its holdings in shares of International Bancshares by 54.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,336 shares of the bank’s stock worth $367,000 after purchasing an additional 1,877 shares during the last quarter. Alps Advisors Inc. lifted its stake in International Bancshares by 10.8% in the third quarter. Alps Advisors Inc. now owns 6,454 shares of the bank’s stock valued at $444,000 after buying an additional 627 shares during the last quarter. AlphaQuest LLC lifted its stake in International Bancshares by 24.3% in the third quarter. AlphaQuest LLC now owns 11,233 shares of the bank’s stock valued at $772,000 after buying an additional 2,196 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of International Bancshares by 1.1% during the third quarter. Arizona State Retirement System now owns 16,497 shares of the bank’s stock valued at $1,134,000 after acquiring an additional 176 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of International Bancshares by 3.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,433 shares of the bank’s stock worth $3,467,000 after acquiring an additional 1,803 shares during the last quarter. 65.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBOC has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. Loop Capital set a $85.00 price target on International Bancshares in a research note on Wednesday, December 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $85.00.

International Bancshares Stock Performance

Shares of IBOC stock opened at $68.62 on Thursday. The stock has a 50-day simple moving average of $69.98 and a 200 day simple moving average of $69.10. The stock has a market capitalization of $4.27 billion, a P/E ratio of 10.37 and a beta of 0.72. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $75.44. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. The company had revenue of $217.71 million during the quarter. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%.

International Bancshares Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.73 per share. This represents a yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares’s dividend payout ratio (DPR) is presently 22.05%.

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.