Short Interest in International Bancshares Corporation (NASDAQ:IBOC) Grows By 20.9%

International Bancshares Corporation (NASDAQ:IBOC) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,607,291 shares, an increase of 20.9% from the January 29th total of 1,329,880 shares. Based on an average daily trading volume, of 297,396 shares, the short-interest ratio is currently 5.4 days. Currently, 3.0% of the company’s shares are short sold. Currently, 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 297,396 shares, the short-interest ratio is currently 5.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IBOC shares. Loop Capital set a $85.00 target price on shares of International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Trading Down 2.4%

NASDAQ IBOC opened at $66.97 on Friday. International Bancshares has a 52 week low of $54.11 and a 52 week high of $75.44. The firm has a 50 day moving average of $69.94 and a two-hundred day moving average of $69.08. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $4.16 billion, a PE ratio of 10.12 and a beta of 0.72.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.08. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The business had revenue of $217.71 million during the quarter.

International Bancshares Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares’s payout ratio is currently 22.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of International Bancshares by 7.1% in the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after acquiring an additional 204,536 shares during the period. Charles Schwab Investment Management Inc. raised its position in International Bancshares by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,879 shares of the bank’s stock valued at $151,342,000 after purchasing an additional 45,980 shares during the last quarter. Azora Capital LP boosted its stake in International Bancshares by 35.1% during the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after purchasing an additional 395,984 shares during the period. Geode Capital Management LLC boosted its stake in International Bancshares by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank’s stock worth $95,385,000 after purchasing an additional 9,496 shares during the period. Finally, First Trust Advisors LP grew its position in International Bancshares by 7.4% during the 4th quarter. First Trust Advisors LP now owns 1,364,148 shares of the bank’s stock worth $90,634,000 after purchasing an additional 93,610 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

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.