International Bancshares (TXSE:IBOC) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

International Bancshares (TXSE:IBOC) posted its quarterly earnings results on Thursday. The bank reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.26, FiscalAI reports. The firm had revenue of $228.90 million for the quarter, compared to analyst estimates of $273.45 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Stock Down 1.0%

IBOC stock traded down $0.70 during trading on Friday, hitting $67.60. 241,162 shares of the company’s stock were exchanged, compared to its average volume of 355,655. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.20 and a beta of 0.70. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares has a 52-week low of $63.19 and a 52-week high of $78.46. The business has a 50-day moving average price of $68.90 and a two-hundred day moving average price of $71.32.

Analyst Ratings Changes

Separately, Weiss Ratings cut International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, International Bancshares presently has an average rating of “Buy” and an average target price of $85.00.

About International Bancshares

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.