Vest Financial LLC Buys 12,515 Shares of International Bancshares Corporation $IBOC

Vest Financial LLC grew its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 19.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,820 shares of the bank’s stock after acquiring an additional 12,515 shares during the quarter. Vest Financial LLC’s holdings in International Bancshares were worth $5,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of International Bancshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,200 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 1,414 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in International Bancshares by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock valued at $34,554,000 after buying an additional 6,909 shares during the last quarter. United Services Automobile Association bought a new position in shares of International Bancshares during the 1st quarter worth approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of International Bancshares by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 167,376 shares of the bank’s stock worth $10,555,000 after buying an additional 3,689 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of International Bancshares by 202.9% in the first quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock valued at $5,828,000 after acquiring an additional 61,905 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

Analysts Set New Price Targets

IBOC has been the topic of a number of recent analyst reports. Loop Capital set a $85.00 price target on International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $85.00.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $71.49 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $68.42 and a two-hundred day simple moving average of $68.80. International Bancshares Corporation has a 1-year low of $54.11 and a 1-year high of $73.65. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 10.58 and a beta of 0.73.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, November 6th. The bank reported $1.74 earnings per share (EPS) for the quarter. The firm had revenue of $218.08 million for the quarter. International Bancshares had a return on equity of 14.20% and a net margin of 40.10%.

International Bancshares 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.