Panagora Asset Management Inc. Grows Position in International Bancshares Corporation $IBOC

Panagora Asset Management Inc. boosted its stake in International Bancshares Corporation (NASDAQ:IBOC) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,053 shares of the bank’s stock after purchasing an additional 16,814 shares during the quarter. Panagora Asset Management Inc.’s holdings in International Bancshares were worth $25,782,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of IBOC. Hantz Financial Services Inc. grew its holdings in International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares during the period. Quadrant Capital Group LLC grew its holdings in International Bancshares by 82.0% in the fourth 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. Rothschild Investment LLC grew its holdings in International Bancshares by 554.4% in the third quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock valued at $40,000 after purchasing an additional 499 shares during the period. Meeder Asset Management Inc. purchased a new stake in International Bancshares in the fourth quarter valued at approximately $47,000. Finally, Danske Bank A S purchased a new stake in International Bancshares in the third quarter valued at approximately $48,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Price Performance

IBOC opened at $75.09 on Tuesday. 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 52-week low of $61.15 and a 52-week high of $77.11. The company has a 50 day moving average of $72.11 and a two-hundred day moving average of $70.25. The company has a market cap of $4.67 billion, a P/E ratio of 11.21 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $257.28 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (a-)” rating to a “buy (b)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.