International Bancshares (NASDAQ:IBOC) Sets New 52-Week High – Should You Buy?

International Bancshares Corporation (NASDAQ:IBOC) hit a new 52-week high on Thursday . The stock traded as high as $77.24 and last traded at $77.25, with a volume of 24783 shares changing hands. The stock had previously closed at $76.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus target price of $85.00.

International Bancshares Trading Up 0.9%

The business’s 50 day simple moving average is $73.01 and its 200 day simple moving average is $70.74. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 11.61 and a beta of 0.68. 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 earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). International Bancshares had a net margin of 39.33% and a return on equity of 13.16%. The firm had revenue of $208.46 million during the quarter, compared to the consensus estimate of $257.28 million.

Institutional Trading of International Bancshares

A number of hedge funds have recently made changes to their positions in IBOC. Rockefeller Capital Management L.P. boosted its stake in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. raised its stake in International Bancshares by 82.5% in 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 raised its stake in International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after acquiring an additional 232 shares during the period. Meeder Asset Management Inc. acquired a new stake in International Bancshares during the 4th quarter valued at $47,000. Finally, Danske Bank A S acquired a new stake in International Bancshares during the 3rd quarter valued at $48,000. 65.91% of the stock is owned by institutional investors and hedge funds.

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.