International Bancshares Corporation $IBOC Holdings Cut by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its International Bancshares stake by 4.4% in the third quarter, selling 57,755 shares; it retained 1,248,850 shares, worth about $85.5 million.
• Institutional investors and hedge funds own 65.91% of the company’s shares. Several large investors, including BlackRock, initiated positions during the second quarter.
• International Bancshares reported quarterly EPS of $1.54, below the $1.61 analyst consensus, and revenue of $214.82 million versus estimates of $264.13 million. Analysts’ consensus rating remains “Buy,” with an average price target of $85.

Boston Trust Walden Corp lowered its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,248,850 shares of the bank's stock after selling 57,755 shares during the period. Boston Trust Walden Corp owned approximately 2.01% of International Bancshares worth $85,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of International Bancshares in the 2nd quarter valued at approximately $535,310,000. Azora Capital LP purchased a new position in shares of International Bancshares in the 2nd quarter valued at about $67,274,000. Bank of New York Mellon Corp acquired a new position in International Bancshares during the 2nd quarter worth approximately $33,171,000. Bank of America Corp DE purchased a new stake in International Bancshares during the 2nd quarter worth about $23,625,000. Finally, Walleye Capital LLC purchased a new position in shares of International Bancshares in the 2nd quarter valued at about $15,249,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

International Bancshares Stock Performance

Shares of International Bancshares stock opened at $69.02 on Thursday. The firm's fifty day simple moving average is $69.01 and its 200-day simple moving average is $71.33. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 10.41 and a beta of 0.70. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). The business had revenue of $214.82 million during the quarter, compared to analyst estimates of $264.13 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.

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