International Bancshares (NASDAQ:IBOC) Downgraded by StockNews.com to “Sell”

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

International Bancshares Stock Up 1.8 %

IBOC stock opened at $59.42 on Friday. The firm has a 50-day moving average price of $54.39 and a 200-day moving average price of $51.24. International Bancshares has a 12 month low of $39.10 and a 12 month high of $59.54. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.69 billion, a P/E ratio of 9.07 and a beta of 0.92.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Monday, February 26th. The bank reported $1.71 EPS for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.89%.

Insider Activity at International Bancshares

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 14.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On International Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of International Bancshares by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,373,927 shares of the bank’s stock valued at $276,246,000 after acquiring an additional 32,145 shares during the last quarter. North Reef Capital Management LP raised its position in International Bancshares by 2.5% during the 3rd quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock worth $71,511,000 after purchasing an additional 39,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in International Bancshares by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,539,677 shares of the bank’s stock worth $83,635,000 after buying an additional 29,818 shares during the period. Boston Trust Walden Corp grew its position in shares of International Bancshares by 77.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after buying an additional 444,674 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of International Bancshares by 26.4% in the fourth quarter. First Trust Advisors LP now owns 651,845 shares of the bank’s stock valued at $35,408,000 after buying an additional 136,043 shares during the period. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Company Profile

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.