International Bancshares (NASDAQ:IBOC) Sets New 52-Week High – Time to Buy?

International Bancshares Co. (NASDAQ:IBOC)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.37 and last traded at $70.35, with a volume of 22742 shares changing hands. The stock had previously closed at $62.90.

International Bancshares Stock Performance

The company’s 50 day simple moving average is $61.30 and its 200 day simple moving average is $59.83. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 9.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71.

Hedge Funds Weigh In On International Bancshares

Hedge funds have recently made changes to their positions in the business. Jupiter Asset Management Ltd. grew its stake in shares of International Bancshares by 28.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 127,782 shares of the bank’s stock worth $7,174,000 after purchasing an additional 28,070 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of International Bancshares by 73.1% in the 1st quarter. Janus Henderson Group PLC now owns 44,406 shares of the bank’s stock worth $2,491,000 after purchasing an additional 18,749 shares during the last quarter. Vident Advisory LLC acquired a new position in shares of International Bancshares in the 1st quarter worth approximately $3,120,000. Strategic Financial Concepts LLC acquired a new position in shares of International Bancshares in the second quarter worth about $39,000. Finally, Intech Investment Management LLC acquired a new position in shares of International Bancshares in the second quarter worth about $756,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

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.