Jupiter Topco LLC Invests $1.69 Million in International Bancshares Corporation $IBOC

Key Points

• Jupiter Topco LLC acquired 22,218 shares of International Bancshares during the second quarter, worth approximately $1.69 million. Institutional investors collectively own 65.91% of the bank’s stock.
• International Bancshares reported quarterly earnings of $1.54 per share, below the $1.61 consensus estimate, while revenue of $214.82 million also fell short of expectations.
• The stock opened at $71.54, and analysts maintain a consensus “Buy” rating with an $85.00 price target. The company paid a $0.73-per-share dividend, with a reported payout ratio of 22.02%.

Jupiter Topco LLC purchased a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,218 shares of the bank's stock, valued at approximately $1,688,000.

Several other institutional investors also recently added to or reduced their stakes in IBOC. Rockefeller Capital Management L.P. grew its position in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank's stock valued at $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of International Bancshares by 82.5% in 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 during the period. Quadrant Capital Group LLC lifted its stake in International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank's stock valued at $34,000 after purchasing an additional 232 shares during the last quarter. Allworth Financial LP purchased a new position in International Bancshares in the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc grew its holdings in International Bancshares by 35.8% during the second quarter. Versant Capital Management Inc now owns 596 shares of the bank's stock valued at $45,000 after purchasing an additional 157 shares during the period. Institutional investors own 65.91% of the company's stock.

Analyst Ratings Changes

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

International Bancshares Stock Up 1.3%

IBOC stock opened at $71.54 on Friday. 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 has a market capitalization of $4.45 billion, a PE ratio of 10.79 and a beta of 0.67. International Bancshares Corporation has a twelve month low of $63.19 and a twelve month high of $78.46. The stock has a 50-day simple moving average of $74.39 and a two-hundred day simple moving average of $72.17.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced 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). The company had revenue of $214.82 million for the quarter, compared to the consensus estimate of $264.13 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Announces Dividend

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

International Bancshares Company 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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