Maltese Capital Management LLC Raises Holdings in International Bancshares Corporation $IBOC

Maltese Capital Management LLC boosted its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 31.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,800 shares of the bank’s stock after acquiring an additional 34,400 shares during the period. International Bancshares accounts for about 1.7% of Maltese Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Maltese Capital Management LLC owned about 0.23% of International Bancshares worth $9,554,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of International Bancshares by 7.1% during the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock worth $212,453,000 after purchasing an additional 204,536 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in International Bancshares during the 3rd quarter worth approximately $3,512,000. JPMorgan Chase & Co. boosted its stake in shares of International Bancshares by 49.1% in the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock valued at $14,497,000 after purchasing an additional 69,466 shares during the period. First Trust Advisors LP lifted its stake in shares of International Bancshares by 1.5% in the third quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock worth $87,349,000 after acquiring an additional 18,591 shares in the last quarter. Finally, Azora Capital LP boosted its stake in shares of International Bancshares by 3.5% during the 3rd quarter. Azora Capital LP now owns 1,128,361 shares of the bank’s stock valued at $77,575,000 after buying an additional 38,195 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Down 1.9%

NASDAQ:IBOC opened at $75.09 on Tuesday. The stock has a fifty day simple moving average of $72.11 and a 200 day simple moving average of $70.25. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.21 and a beta of 0.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 1-year low of $61.15 and a 1-year high of $77.11.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The business had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, International Bancshares presently has an average rating of “Buy” and a consensus target price of $85.00.

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.