International Bancshares (NASDAQ:IBOC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of International Bancshares Corporation (NASDAQ:IBOC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $69.08 and traded as high as $73.39. International Bancshares shares last traded at $72.56, with a volume of 189,624 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. 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 target on International Bancshares in a report on Wednesday, December 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Price Performance

The company has a market capitalization of $4.51 billion, a PE ratio of 10.73 and a beta of 0.73. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $70.31 and a 200-day simple moving average of $69.08.

International Bancshares Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date of this dividend is Friday, February 13th. International Bancshares’s dividend payout ratio is 21.60%.

Institutional Trading of International Bancshares

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its position in shares of International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after acquiring an additional 232 shares in the last quarter. Rothschild Investment LLC increased its position in shares of International Bancshares by 554.4% during the third quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock worth $40,000 after purchasing an additional 499 shares in the last quarter. Danske Bank A S purchased a new stake in shares of International Bancshares in the 3rd quarter valued at about $48,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of International Bancshares in the 4th quarter valued at about $47,000. Hedge funds and other 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.