International Bancshares (NASDAQ:IBOC) Announces Quarterly Earnings Results

International Bancshares (NASDAQ:IBOC) posted its earnings results on Thursday. The bank reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07), Zacks reports. International Bancshares had a return on equity of 12.82% and a net margin of 38.83%.The firm had revenue of $214.82 million for the quarter, compared to analysts’ expectations of $266.36 million.

International Bancshares Stock Down 2.1%

Shares of IBOC traded down $1.56 during mid-day trading on Friday, reaching $73.55. The company had a trading volume of 402,481 shares, compared to its average volume of 300,106. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50-day moving average price of $75.39 and a 200 day moving average price of $72.11. International Bancshares has a 52 week low of $63.19 and a 52 week high of $78.46. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 11.09 and a beta of 0.69.

International Bancshares Dividend Announcement

The firm also recently announced a dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a dividend yield of 192.0%. International Bancshares’s dividend payout ratio (DPR) is currently 21.79%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of International Bancshares by 6.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,091,549 shares of the bank’s stock worth $72,523,000 after acquiring an additional 70,193 shares during the last quarter. Invesco Ltd. increased its holdings in shares of International Bancshares by 2.4% during the fourth quarter. Invesco Ltd. now owns 267,517 shares of the bank’s stock valued at $17,774,000 after acquiring an additional 6,151 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of International Bancshares by 109.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,754 shares of the bank’s stock worth $585,000 after purchasing an additional 4,565 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of International Bancshares by 48.2% in the 4th quarter. Voloridge Investment Management LLC now owns 133,849 shares of the bank’s stock worth $8,893,000 after purchasing an additional 43,522 shares during the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in International Bancshares in the 4th quarter worth about $242,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

About International Bancshares

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.