Edgestream Partners L.P. Invests $5.39 Million in International Bancshares Corporation $IBOC

Key Points

• Edgestream Partners L.P. purchased 80,144 shares of International Bancshares in the first quarter, worth approximately $5.39 million and representing a 0.13% stake. Institutional investors and hedge funds collectively own 65.91% of the company.
• International Bancshares reported quarterly earnings of $1.64 per share, below the $1.68 consensus estimate, while revenue of $208.46 million also fell short of analysts’ $257.28 million forecast.
• The stock opened at $76.54, near its 52-week high of $78.46. Analysts maintain a “Strong Buy” consensus with an average price target of $85.00, and Weiss Ratings upgraded the stock to “buy (a-).”

Edgestream Partners L.P. bought a new stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,144 shares of the bank's stock, valued at approximately $5,393,000. Edgestream Partners L.P. owned 0.13% of International Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC increased its position in International Bancshares by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank's stock worth $511,000 after acquiring an additional 168 shares during the period. Cetera Investment Advisers boosted its holdings in International Bancshares by 5.3% in the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank's stock valued at $242,000 after purchasing an additional 184 shares during the period. WINTON GROUP Ltd boosted its holdings in International Bancshares by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank's stock valued at $1,223,000 after purchasing an additional 196 shares during the period. State of Michigan Retirement System grew its position in shares of International Bancshares by 1.6% during the 1st quarter. State of Michigan Retirement System now owns 13,012 shares of the bank's stock worth $876,000 after purchasing an additional 200 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank's stock worth $32,000 after purchasing an additional 221 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Price Performance

International Bancshares stock opened at $76.54 on Friday. 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 52 week low of $63.19 and a 52 week high of $78.46. The stock has a market capitalization of $4.76 billion, a P/E ratio of 11.42 and a beta of 0.68. The stock has a fifty day moving average of $75.10 and a 200-day moving average of $71.90.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.04). International Bancshares had a net margin of 39.33% and a return on equity of 13.16%. The business had revenue of $208.46 million during the quarter, compared to analyst estimates of $257.28 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of International Bancshares from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has an average rating of "Strong Buy" and an average target price of $85.00.

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.

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