International Bancshares (NASDAQ:IBOC) Announces Earnings Results, Misses Estimates By $0.04 EPS

International Bancshares (NASDAQ:IBOC) released its earnings results on Thursday. The bank reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04), Zacks reports. The firm had revenue of $208.46 million for the quarter, compared to analyst estimates of $280.20 million. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Stock Performance

Shares of NASDAQ:IBOC remained flat at $73.26 during midday trading on Friday. The company had a trading volume of 177,261 shares, compared to its average volume of 353,671. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. International Bancshares has a fifty-two week low of $61.15 and a fifty-two week high of $75.44. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 11.07 and a beta of 0.69. The company has a fifty day simple moving average of $69.29 and a two-hundred day simple moving average of $69.03.

Hedge Funds Weigh In On International Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of IBOC. Quadrant Capital Group LLC boosted its position in shares of International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after purchasing an additional 232 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of International Bancshares in the 4th quarter valued at $47,000. Danske Bank A S acquired a new position in shares of International Bancshares in the 3rd quarter valued at $48,000. CIBC Private Wealth Group LLC boosted its position in shares of International Bancshares by 64.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock valued at $52,000 after purchasing an additional 306 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of International Bancshares in the 3rd quarter valued at $89,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $85.00.

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.