International Bancshares (NASDAQ:IBOC) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

International Bancshares Corporation (NASDAQ:IBOC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $68.77 and traded as high as $69.45. International Bancshares shares last traded at $69.26, with a volume of 481,250 shares changing hands.

Analyst Ratings Changes

IBOC has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research note on Thursday, January 22nd. Loop Capital set a $85.00 price objective on International Bancshares in a report on Wednesday, December 31st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, International Bancshares currently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $4.31 billion, a P/E ratio of 10.25 and a beta of 0.73. The business’s 50-day moving average price is $68.96 and its 200-day moving average price is $68.77.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, November 6th. The bank reported $1.74 earnings per share for the quarter. The company had revenue of $218.08 million for the quarter. International Bancshares had a return on equity of 14.20% and a net margin of 40.10%.

Institutional Investors Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS increased its stake in International Bancshares by 2.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,700 shares of the bank’s stock worth $779,000 after acquiring an additional 300 shares during the last quarter. Azora Capital LP raised its stake in International Bancshares by 15.1% during the second quarter. Azora Capital LP now owns 1,090,166 shares of the bank’s stock valued at $72,561,000 after purchasing an additional 142,937 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in International Bancshares by 7.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,731 shares of the bank’s stock valued at $914,000 after purchasing an additional 944 shares during the last quarter. Exencial Wealth Advisors LLC purchased a new position in shares of International Bancshares in the 3rd quarter worth $1,728,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of International Bancshares by 11.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,630 shares of the bank’s stock worth $3,237,000 after buying an additional 5,037 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

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.