Reinhart Partners LLC. Acquires 72,025 Shares of International Bancshares Corporation $IBOC

Reinhart Partners LLC. raised its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 739,340 shares of the bank’s stock after buying an additional 72,025 shares during the period. Reinhart Partners LLC. owned about 1.19% of International Bancshares worth $49,123,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Arizona State Retirement System increased its stake 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 worth $1,134,000 after purchasing an additional 176 shares during the period. Hantz Financial Services Inc. increased its stake in shares of International Bancshares by 82.5% during the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after purchasing an additional 221 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of International Bancshares by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock worth $156,000 after purchasing an additional 341 shares during the period. Handelsbanken Fonder AB increased its stake in shares of International Bancshares by 3.1% during the fourth quarter. Handelsbanken Fonder AB now owns 13,502 shares of the bank’s stock worth $897,000 after purchasing an additional 400 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of International Bancshares by 3.2% during the second quarter. BNP Paribas Financial Markets now owns 13,015 shares of the bank’s stock worth $866,000 after purchasing an additional 405 shares during the period. Institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $71.99 on Wednesday. The firm has a market cap of $4.48 billion, a P/E ratio of 10.74 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 1-year low of $61.15 and a 1-year high of $75.44. The business’s 50 day moving average is $70.82 and its 200-day moving average is $69.64.

International Bancshares (NASDAQ:IBOC) last issued its quarterly 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 for the quarter, compared to analyst estimates of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average 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.