Hsbc Holdings PLC Invests $2.42 Million in International Bancshares Corporation $IBOC

Key Points

• Hsbc Holdings PLC opened a new position in International Bancshares, purchasing 31,760 shares valued at approximately $2.42 million, or about 0.05% of the company. Institutional investors collectively own 65.91% of IBOC.
• International Bancshares reported quarterly EPS of $1.54, missing the $1.61 consensus estimate, while revenue of $214.82 million fell short of the $264.13 million forecast.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $85.00, compared with the stock’s reported price of $70.94.

Hsbc Holdings PLC bought a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 31,760 shares of the bank's stock, valued at approximately $2,421,000. Hsbc Holdings PLC owned about 0.05% of International Bancshares at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Azora Capital LP lifted its stake in International Bancshares by 35.1% during the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank's stock valued at $101,277,000 after acquiring an additional 395,984 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of International Bancshares in the 1st quarter worth $1,741,000. BlackRock Inc. bought a new stake in shares of International Bancshares in the 2nd quarter worth $535,310,000. Walleye Capital LLC purchased a new stake in shares of International Bancshares in the second quarter valued at about $15,249,000. Finally, Fieldview Capital Management LLC raised its holdings in shares of International Bancshares by 153.0% in the fourth quarter. Fieldview Capital Management LLC now owns 23,545 shares of the bank's stock valued at $1,564,000 after purchasing an additional 14,239 shares during the last quarter. Institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

NASDAQ IBOC opened at $70.94 on Friday. The company has a market cap of $4.41 billion, a PE ratio of 10.70 and a beta of 0.67. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46. 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 firm's 50-day simple moving average is $73.77 and its two-hundred day simple moving average is $72.14.

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

International Bancshares Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of International Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares has an average rating of "Buy" and an average price target of $85.00.

International Bancshares Company Profile

International Bancshares Corporation NASDAQ: IBOC is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides commercial and retail banking services to individuals, businesses and public-sector customers.

IBC Bank's products and services include deposit accounts, commercial and consumer lending, residential and mortgage-related lending, cash-management services, treasury services, online and mobile banking, and trust and investment services.

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