ProShare Advisors LLC Sells 11,978 Shares of International Bancshares Corporation $IBOC

ProShare Advisors LLC trimmed its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,627 shares of the bank’s stock after selling 11,978 shares during the period. ProShare Advisors LLC owned about 0.59% of International Bancshares worth $25,044,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of International Bancshares in the 2nd quarter valued at $535,310,000. Dimensional Fund Advisors LP increased its holdings in International Bancshares by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,186,820 shares of the bank’s stock valued at $214,442,000 after purchasing an additional 9,468 shares in the last quarter. Azora Capital LP purchased a new position in International Bancshares in the second quarter valued at about $67,274,000. Reinhart Partners LLC. raised its position in International Bancshares by 0.5% in the second quarter. Reinhart Partners LLC. now owns 749,761 shares of the bank’s stock valued at $56,946,000 after purchasing an additional 4,065 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in International Bancshares in the second quarter valued at about $33,171,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Price Performance

IBOC opened at $68.89 on Tuesday. International Bancshares Corporation has a twelve month low of $63.19 and a twelve month high of $78.46. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 9.98 and a beta of 0.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $69.12 and a 200 day simple moving average of $71.35.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). The firm had revenue of $214.82 million during the quarter, compared to analyst estimates of $264.13 million. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Buy rating. According to data from MarketBeat, International Bancshares currently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Company Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.