International Bancshares Corporation $IBOC Shares Purchased by Convergence Financial LLC

Convergence Financial LLC raised its position in International Bancshares Corporation (NASDAQ:IBOC) by 82.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,442 shares of the bank’s stock after buying an additional 3,352 shares during the period. Convergence Financial LLC’s holdings in International Bancshares were worth $495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its position in shares of International Bancshares by 37.9% during the first quarter. American Century Companies Inc. now owns 2,418,758 shares of the bank’s stock worth $152,527,000 after purchasing an additional 665,280 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of International Bancshares by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank’s stock valued at $135,072,000 after buying an additional 63,791 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of International Bancshares by 0.5% in the second quarter. Boston Trust Walden Corp now owns 1,405,068 shares of the bank’s stock worth $93,521,000 after buying an additional 7,019 shares in the last quarter. Azora Capital LP boosted its position in International Bancshares by 28.4% during the first quarter. Azora Capital LP now owns 947,229 shares of the bank’s stock worth $59,732,000 after acquiring an additional 209,643 shares during the last quarter. Finally, Reinhart Partners LLC. grew its stake in International Bancshares by 1.4% during the 2nd quarter. Reinhart Partners LLC. now owns 788,418 shares of the bank’s stock valued at $52,478,000 after acquiring an additional 10,705 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

International Bancshares Price Performance

International Bancshares stock opened at $67.75 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $68.86 and a 200 day moving average price of $67.12. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The stock has a market cap of $4.21 billion, a P/E ratio of 10.23 and a beta of 0.82.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share for the quarter. International Bancshares had a net margin of 39.51% and a return on equity of 14.37%.

International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.