JPMorgan Chase & Co. Grows Stock Holdings in International Bancshares Corporation $IBOC

Key Points

• JPMorgan Chase raised its stake in International Bancshares by 49.1% in Q3, acquiring an additional 69,466 shares to hold 210,864 shares (about $14.5 million, ~0.34% of the company).
• International Bancshares beat quarterly EPS estimates with $1.71 per share on $217.71 million in revenue and shows solid profitability (ROE 13.41%, net margin 39.04%) with a market cap of $4.22 billion and a PE of 10.25.
• Analysts have an average rating of Buy with a consensus price target of $85.00, and the company recently paid a $0.73 dividend (record date Feb 13, paid Feb 27) with a payout ratio of 22.05%.

JPMorgan Chase & Co. lifted its holdings in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 49.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,864 shares of the bank's stock after acquiring an additional 69,466 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of International Bancshares worth $14,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBOC. Arizona State Retirement System boosted its position in International Bancshares by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 16,497 shares of the bank's stock worth $1,134,000 after purchasing an additional 176 shares during the period. Covestor Ltd raised its position in International Bancshares by 19.9% in the third quarter. Covestor Ltd now owns 1,197 shares of the bank's stock valued at $82,000 after purchasing an additional 199 shares during the period. Amalgamated Bank raised its position in International Bancshares by 0.9% in the third quarter. Amalgamated Bank now owns 23,744 shares of the bank's stock valued at $1,632,000 after purchasing an additional 202 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of International Bancshares by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank's stock worth $156,000 after purchasing an additional 341 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of International Bancshares by 3.2% during the second quarter. BNP Paribas Financial Markets now owns 13,015 shares of the bank's stock worth $866,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IBOC shares. Weiss Ratings reiterated a "buy (b)" rating on shares of International Bancshares in a research note on Thursday, January 22nd. Loop Capital set a $85.00 price target on International Bancshares in a research report on Wednesday, December 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $85.00.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $67.85 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $75.44. The business has a 50 day moving average price of $69.59 and a two-hundred day moving average price of $68.68. The firm has a market cap of $4.22 billion, a PE ratio of 10.25 and a beta of 0.72.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.08. The company had revenue of $217.71 million for the quarter. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a yield of 203.0%. International Bancshares's dividend payout ratio is currently 22.05%.

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.

Want to see what other hedge funds are holding IBOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Bancshares Corporation (NASDAQ:IBOC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.