Headlands Technologies LLC Acquires New Position in International Bancshares Corporation $IBOC

Key Points

• Headlands Technologies acquired 20,501 shares of International Bancshares in the second quarter, valued at roughly $1.56 million. Other institutional investors also initiated positions, with institutions now owning 65.91% of the stock.
• International Bancshares reported quarterly earnings of $1.54 per share, below the $1.61 consensus estimate, while revenue of $214.82 million also missed expectations of $264.13 million.
• The stock opened at $70.16, compared with a consensus analyst price target of $85.00. The company paid a $0.73-per-share dividend, and MarketBeat’s consensus rating remains “Buy,” despite a recent rating downgrade by Weiss Ratings.

Headlands Technologies LLC bought a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,501 shares of the bank's stock, valued at approximately $1,557,000.

Several other large investors have also recently made changes to their positions in IBOC. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Bancshares in the 2nd quarter worth approximately $2,742,000. Hsbc Holdings PLC bought a new stake in International Bancshares in the second quarter worth $2,421,000. Beacon Pointe Advisors LLC purchased a new stake in International Bancshares during the second quarter valued at about $1,124,000. United Capital Financial Advisors LLC bought a new position in shares of International Bancshares during the second quarter valued at about $205,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of International Bancshares during the second quarter valued at about $49,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of International Bancshares stock opened at $70.16 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.36 billion, a PE ratio of 10.58 and a beta of 0.69. The business has a 50 day moving average of $74.75 and a 200 day moving average of $72.20. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). International Bancshares had a net margin of 38.83% and a return on equity of 12.67%. The company had revenue of $214.82 million during the quarter, compared to the consensus estimate of $264.13 million.

International Bancshares Announces Dividend

The business also recently announced a dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares's payout ratio is presently 22.02%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut International Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $85.00.

International Bancshares Profile

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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