International Bancshares (NASDAQ:IBOC) Sets New 52-Week Low - Time to Sell?

Key Points

• International Bancshares hit a new 52-week low intraday, trading as low as $55.00 before last trading around $70.53 on light volume (655 shares).
• Analysts remain constructive: MarketBeat shows a consensus "Buy" with an average target of $85.00 (including Loop Capital and Weiss Ratings), implying notable upside from current levels.
• The bank beat quarterly estimates with EPS of $1.71 vs. $1.63, trades at a PE of 10.62 with a ROE of 13.41%, and recently paid a $0.73 dividend (payout ratio ~22%).

International Bancshares Corporation (NASDAQ:IBOC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $55.00 and last traded at $70.5250, with a volume of 655 shares. The stock had previously closed at $68.23.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBOC. Loop Capital set a $85.00 price objective on International Bancshares in a research note on Wednesday, December 31st. Weiss Ratings reissued a "buy (b)" rating on shares of International Bancshares in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $85.00.

International Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day moving average of $69.27 and a 200-day moving average of $68.51. The stock has a market capitalization of $4.36 billion, a PE ratio of 10.62 and a beta of 0.69.

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

International Bancshares Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date of this dividend was Friday, February 13th. International Bancshares's dividend payout ratio is presently 22.05%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System increased its position in International Bancshares by 1.1% in 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 last quarter. Cetera Investment Advisers increased its position in International Bancshares by 5.3% in the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank's stock worth $242,000 after purchasing an additional 184 shares during the last quarter. WINTON GROUP Ltd increased its position in International Bancshares by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank's stock worth $1,223,000 after purchasing an additional 196 shares during the last quarter. Covestor Ltd increased its position in International Bancshares by 19.9% in the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank's stock worth $82,000 after purchasing an additional 199 shares during the last quarter. Finally, Amalgamated Bank increased its position in International Bancshares by 0.9% in the 3rd quarter. Amalgamated Bank now owns 23,744 shares of the bank's stock worth $1,632,000 after purchasing an additional 202 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

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.

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