International Bancshares Corporation $IBOC Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 2,463.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,559 shares of the bank’s stock after purchasing an additional 12,069 shares during the quarter. Fifth Third Bancorp’s holdings in International Bancshares were worth $845,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Azora Capital LP increased its stake in shares of International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after acquiring an additional 395,984 shares during the period. Hsbc Holdings PLC purchased a new position in International Bancshares in the 4th quarter valued at approximately $1,500,000. Fieldview Capital Management LLC increased its position in shares of International Bancshares by 153.0% in the fourth quarter. Fieldview Capital Management LLC now owns 23,545 shares of the bank’s stock valued at $1,564,000 after buying an additional 14,239 shares in the last quarter. Norges Bank acquired a new position in International Bancshares during the fourth quarter worth about $45,598,000. Finally, Elizabeth Park Capital Advisors Ltd. raised its position in shares of International Bancshares by 20.6% during the 4th quarter. Elizabeth Park Capital Advisors Ltd. now owns 61,587 shares of the bank’s stock worth $4,092,000 after purchasing an additional 10,500 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Price Performance

IBOC stock opened at $76.79 on Monday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 11.46 and a beta of 0.68. 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 one year low of $63.19 and a one year high of $78.46. The company has a 50 day moving average price of $74.64 and a two-hundred day moving average price of $71.65.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The business had revenue of $208.46 million for the quarter, compared to analysts’ expectations of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, International Bancshares presently has an average rating of “Strong Buy” and an average target price of $85.00.

International Bancshares Company Profile

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.