20,257 Shares in International Bancshares Corporation $IBOC Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,257 shares of the bank’s stock, valued at approximately $1,363,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of International Bancshares in the first quarter valued at approximately $1,741,000. Weiss Asset Management LP acquired a new position in shares of International Bancshares in the 1st quarter valued at $1,421,000. Entropy Technologies LP increased its holdings in shares of International Bancshares by 143.7% in the 1st quarter. Entropy Technologies LP now owns 9,937 shares of the bank’s stock valued at $669,000 after acquiring an additional 5,859 shares during the period. Arrowstreet Capital Limited Partnership raised its position in International Bancshares by 14.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,158 shares of the bank’s stock valued at $549,000 after purchasing an additional 999 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in International Bancshares in the 1st quarter valued at $438,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Down 1.3%

IBOC opened at $76.66 on Thursday. The business has a 50 day moving average price of $74.93 and a two-hundred day moving average price of $71.82. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.77 billion, a PE ratio of 11.44 and a beta of 0.68. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The company had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million. International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus price target of $85.00.

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.