International Bancshares (NASDAQ:IBOC) Issues Quarterly Earnings Results

Key Points

• International Bancshares reported quarterly EPS of $1.64, which missed analyst expectations of $1.68. Revenue also came in below estimates at $208.46 million versus the $280.20 million consensus.
• The stock was flat at $73.26 after the earnings release, with the company valued at about $4.56 billion and trading at a 11.07 P/E ratio.
• Sentiment remains positive overall: Weiss Ratings reiterated a buy rating, and MarketBeat shows a consensus Buy rating with an average price target of $85.00.

International Bancshares (NASDAQ:IBOC - Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.68 by ($0.04), Zacks reports. The business had revenue of $208.46 million for the quarter, compared to analyst estimates of $280.20 million. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%.

International Bancshares Price Performance

Shares of IBOC remained flat at $73.26 during trading hours on Friday. The stock had a trading volume of 177,261 shares, compared to its average volume of 353,671. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 11.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. International Bancshares has a 52 week low of $61.15 and a 52 week high of $75.44. The stock has a fifty day simple moving average of $69.29 and a two-hundred day simple moving average of $69.03.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of International Bancshares in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $85.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank's stock valued at $34,000 after buying an additional 232 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in International Bancshares during the fourth quarter worth about $47,000. Danske Bank A S acquired a new position in International Bancshares during the third quarter worth about $48,000. CIBC Private Wealth Group LLC grew its holdings in International Bancshares by 64.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank's stock worth $52,000 after acquiring an additional 306 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in International Bancshares during the third quarter worth about $89,000. 65.91% of the stock is owned by institutional investors and hedge funds.

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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