Short Interest in International Bancshares Corporation (NASDAQ:IBOC) Declines By 23.9%

International Bancshares Corporation (NASDAQ:IBOC) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 1,401,575 shares, a drop of 23.9% from the March 15th total of 1,841,066 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 670,131 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

A number of research firms have commented on IBOC. Loop Capital set a $85.00 target price on International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Price Performance

NASDAQ IBOC opened at $72.08 on Wednesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 10.89 and a beta of 0.69. International Bancshares has a 1-year low of $57.11 and a 1-year high of $75.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. The business’s fifty day moving average price is $69.40 and its 200-day moving average price is $68.59.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.71 EPS for the quarter, topping the consensus estimate of $1.63 by $0.08. The company had revenue of $217.71 million during the quarter. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Announces Dividend

The company also recently declared a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares’s payout ratio is currently 22.05%.

Hedge Funds Weigh In On International Bancshares

Institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after buying an additional 402 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of International Bancshares by 82.5% during the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after acquiring an additional 221 shares during the period. Quadrant Capital Group LLC increased its stake 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 worth $34,000 after purchasing an additional 232 shares in the last quarter. Rothschild Investment LLC raised its holdings in International Bancshares by 554.4% in the 3rd quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock worth $40,000 after purchasing an additional 499 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in International Bancshares during the fourth quarter valued at $47,000. Institutional investors own 65.91% of the company’s stock.

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.