International Bancshares (NASDAQ:IBOC) Hits New 1-Year High – Should You Buy?

International Bancshares Corporation (NASDAQ:IBOC) reached a new 52-week high on Monday . The company traded as high as $76.73 and last traded at $76.8050, with a volume of 413460 shares trading hands. The stock had previously closed at $76.53.

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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Price Performance

The company has a market cap of $4.74 billion, a price-to-earnings ratio of 11.40 and a beta of 0.68. The company has a 50 day moving average price of $71.97 and a 200-day moving average price of $70.20. 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 (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.04). The business had revenue of $208.46 million during the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.

Institutional Investors Weigh In On International Bancshares

A number of institutional investors have recently modified their holdings of IBOC. Norges Bank acquired a new position in International Bancshares in the fourth quarter valued at $45,598,000. Azora Capital LP grew its stake in International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after purchasing an additional 395,984 shares during the period. AQR Capital Management LLC grew its stake in International Bancshares by 101.0% during the second quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock worth $43,888,000 after purchasing an additional 331,256 shares during the period. Freestone Grove Partners LP bought a new stake in International Bancshares in the third quarter worth approximately $18,330,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in International Bancshares by 447.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 268,654 shares of the bank’s stock worth $17,850,000 after purchasing an additional 219,578 shares in the last quarter. 65.91% of the stock is owned by institutional investors.

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.