Jupiter Topco LLC Buys Shares of 22,218 International Bancshares Corporation $IBOC

Jupiter Topco LLC purchased a new position in International Bancshares Corporation (NASDAQ:IBOC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 22,218 shares of the bank’s stock, valued at approximately $1,688,000.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC bought a new position in shares of International Bancshares during the 2nd quarter valued at about $2,421,000. Canada Pension Plan Investment Board bought a new stake in International Bancshares in the 2nd quarter worth approximately $380,000. Legal & General Group Plc bought a new position in International Bancshares during the second quarter valued at approximately $5,307,000. The Manufacturers Life Insurance Company bought a new position in International Bancshares during the second quarter valued at approximately $3,922,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of International Bancshares during the second quarter worth approximately $237,000. Institutional investors own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, International Bancshares currently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Stock Performance

Shares of IBOC stock opened at $71.54 on Friday. 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 fifty-two week low of $63.19 and a fifty-two week high of $78.46. The stock has a 50 day moving average price of $74.39 and a two-hundred day moving average price of $72.17. The company has a market capitalization of $4.45 billion, a P/E ratio of 10.79 and a beta of 0.67.

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

International Bancshares Announces Dividend

The company also recently declared a dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a yield of 199.0%. International Bancshares’s dividend payout ratio is presently 22.02%.

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.