International Bancshares (TXSE:IBOC) Releases Earnings Results, Beats Estimates By $0.26 EPS

International Bancshares (TXSE:IBOC) posted its quarterly earnings results on Thursday. The bank reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.26, FiscalAI reports. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%. The company had revenue of $228.90 million during the quarter, compared to analysts’ expectations of $273.45 million.

International Bancshares Price Performance

Shares of TXSE:IBOC traded down $0.70 during trading on Friday, hitting $67.60. 241,162 shares of the company were exchanged, compared to its average volume of 355,655. The business’s 50 day moving average is $68.96 and its 200-day moving average is $71.32. The company has a market capitalization of $4.20 billion, a P/E ratio of 10.20 and a beta of 0.70. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares has a 1-year low of $63.19 and a 1-year high of $78.46.

Analyst Upgrades and Downgrades

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

International Bancshares Company Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.