International Bancshares (TXSE:IBOC) Announces Earnings Results

International Bancshares (TXSE:IBOC) posted its earnings results on Thursday. The bank reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.26, FiscalAI reports. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%. The firm had revenue of $228.90 million for the quarter, compared to the consensus estimate of $273.45 million.

International Bancshares Price Performance

IBOC traded down $0.70 on Friday, reaching $67.60. The company had a trading volume of 241,162 shares, compared to its average volume of 355,655. The business has a 50 day simple moving average of $68.96 and a 200 day simple moving average of $71.32. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 10.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. International Bancshares has a 52-week low of $63.19 and a 52-week high of $78.46.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, International Bancshares presently has an average rating of “Buy” and a consensus 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.