International Bancshares Corporation $IBOC Shares Sold by UBS Group AG

UBS Group AG reduced its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,632 shares of the bank’s stock after selling 11,967 shares during the period. UBS Group AG owned 0.20% of International Bancshares worth $8,413,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in 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 during the last quarter. Elizabeth Park Capital Advisors Ltd. purchased a new stake in International Bancshares in the third quarter valued at approximately $3,512,000. JPMorgan Chase & Co. lifted its stake in International Bancshares by 49.1% in the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock valued at $14,497,000 after buying an additional 69,466 shares during the last quarter. First Trust Advisors LP lifted its stake in International Bancshares by 1.5% in the third quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after buying an additional 18,591 shares during the last quarter. Finally, Azora Capital LP lifted its stake in International Bancshares by 3.5% in the third quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock valued at $77,575,000 after buying an additional 38,195 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 11th. 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.

International Bancshares Stock Performance

NASDAQ:IBOC opened at $70.83 on Monday. The firm has a market cap of $4.40 billion, a P/E ratio of 10.57 and a beta of 0.69. 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 stock’s 50 day simple moving average is $69.67 and its 200-day simple moving average is $69.24. International Bancshares Corporation has a 12-month low of $61.15 and a 12-month high of $75.44.

International Bancshares (NASDAQ:IBOC) last released 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). The company 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%.

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.