International Bancshares (NASDAQ:IBOC) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of International Bancshares (NASDAQ:IBOC) from a hold rating to a sell rating in a research note published on Friday morning.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $60.16 on Friday. The business’s 50 day moving average is $54.56 and its 200-day moving average is $51.47. The firm has a market cap of $3.74 billion, a P/E ratio of 9.18 and a beta of 0.92. International Bancshares has a 1-year low of $40.43 and a 1-year high of $60.99. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. International Bancshares had a return on equity of 17.50% and a net margin of 40.92%. The company had revenue of $211.03 million during the quarter.

Insider Transactions at International Bancshares

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $54.22, for a total value of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares in the company, valued at $71,149,923.90. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 14.45% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama raised its stake in International Bancshares by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 66,842 shares of the bank’s stock valued at $3,631,000 after purchasing an additional 213 shares in the last quarter. Comerica Bank lifted its holdings in shares of International Bancshares by 1.4% during the 4th quarter. Comerica Bank now owns 21,782 shares of the bank’s stock worth $1,183,000 after acquiring an additional 295 shares during the period. State of Michigan Retirement System boosted its position in shares of International Bancshares by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 13,112 shares of the bank’s stock worth $736,000 after acquiring an additional 300 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in International Bancshares by 1.0% in the third quarter. Nisa Investment Advisors LLC now owns 31,365 shares of the bank’s stock valued at $1,359,000 after acquiring an additional 305 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in International Bancshares by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the bank’s stock valued at $865,000 after purchasing an additional 400 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.