International Bancshares Corporation (NASDAQ:IBOC) Short Interest Update

International Bancshares Corporation (NASDAQ:IBOC) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,841,066 shares, an increase of 24.0% from the February 26th total of 1,484,699 shares. Based on an average trading volume of 379,827 shares, the days-to-cover ratio is currently 4.8 days. Currently, 3.4% of the shares of the company are short sold.

International Bancshares Stock Performance

Shares of IBOC stock traded up $0.25 during mid-day trading on Tuesday, reaching $67.29. 819,448 shares of the company’s stock traded hands, compared to its average volume of 535,446. International Bancshares has a 12 month low of $54.11 and a 12 month high of $75.44. The firm has a 50 day moving average price of $69.44 and a two-hundred day moving average price of $68.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $4.18 billion, a PE ratio of 10.16 and a beta of 0.72.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, February 26th. The bank reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.08. The company had revenue of $217.71 million for the quarter. International Bancshares had a return on equity of 13.41% and a net margin of 39.04%.

International Bancshares Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a dividend yield of 203.0%. International Bancshares’s dividend payout ratio (DPR) is 22.05%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of International Bancshares during the 4th quarter valued at approximately $45,598,000. Azora Capital LP raised its stake in International Bancshares by 35.1% during the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after acquiring an additional 395,984 shares during the period. AQR Capital Management LLC lifted its holdings in International Bancshares by 101.0% during the second quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock valued at $43,888,000 after purchasing an additional 331,256 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of International Bancshares in the third quarter worth approximately $18,330,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 during the period. Institutional investors own 65.91% of the company’s stock.

Analyst Ratings Changes

IBOC has been the subject of a number of recent research reports. Loop Capital set a $85.00 price target on International Bancshares in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average 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.