Convergence Financial LLC purchased a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,090 shares of the bank's stock, valued at approximately $258,000.
A number of other hedge funds also recently bought and sold shares of IBOC. Bessemer Group Inc. lifted its position in International Bancshares by 8.9% in the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after acquiring an additional 222 shares in the last quarter. Hancock Whitney Corp lifted its holdings in shares of International Bancshares by 1.5% during the fourth quarter. Hancock Whitney Corp now owns 19,293 shares of the bank's stock valued at $1,219,000 after purchasing an additional 281 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of International Bancshares by 6.1% during the fourth quarter. Quantinno Capital Management LP now owns 5,796 shares of the bank's stock valued at $366,000 after buying an additional 331 shares during the last quarter. Diversified Trust Co increased its holdings in International Bancshares by 2.0% in the 1st quarter. Diversified Trust Co now owns 19,912 shares of the bank's stock worth $1,256,000 after buying an additional 383 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in International Bancshares by 0.7% in the 4th quarter. Janus Henderson Group PLC now owns 54,245 shares of the bank's stock worth $3,428,000 after buying an additional 388 shares during the last quarter. Institutional investors own 65.91% of the company's stock.
International Bancshares Stock Performance
IBOC traded up $0.92 during midday trading on Thursday, hitting $71.19. 128,517 shares of the company traded hands, compared to its average volume of 253,419. The company's 50-day moving average is $63.86 and its 200 day moving average is $63.60. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.42 billion, a PE ratio of 10.84 and a beta of 0.82. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91.
International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The bank reported $1.56 earnings per share for the quarter. International Bancshares had a net margin of 39.30% and a return on equity of 14.84%. The company had revenue of $198.22 million for the quarter.
International Bancshares Company Profile
(
Free Report)
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.
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