International Bancshares (NASDAQ:IBOC) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

International Bancshares Corporation (NASDAQ:IBOC) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $68.77 and traded as high as $69.45. International Bancshares shares last traded at $69.26, with a volume of 481,250 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IBOC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 price target on shares of International Bancshares in a research report on Wednesday, December 31st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $85.00.

International Bancshares Price Performance

The stock has a fifty day moving average of $69.03 and a 200-day moving average of $68.77. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.30 and a beta of 0.73.

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

Hedge Funds Weigh In On International Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Bancshares by 4.6% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of International Bancshares by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock worth $34,554,000 after purchasing an additional 6,909 shares during the period. United Services Automobile Association purchased a new position in International Bancshares in the 1st quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 valued at $10,555,000 after buying an additional 3,689 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in International Bancshares by 202.9% in the 1st quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock valued at $5,828,000 after buying an additional 61,905 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

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.