Boston Trust Walden Corp Reduces Position in International Bancshares Corporation $IBOC

Boston Trust Walden Corp trimmed its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,087,661 shares of the bank’s stock after selling 104,155 shares during the quarter. Boston Trust Walden Corp’s holdings in International Bancshares were worth $73,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBOC. Rockefeller Capital Management L.P. lifted its stake in International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after purchasing an additional 402 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of International Bancshares by 82.5% during the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after buying an additional 232 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of International Bancshares in the fourth quarter worth approximately $47,000. Finally, Danske Bank A S purchased a new stake in shares of International Bancshares in the third quarter worth approximately $48,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Trading Down 1.5%

Shares of IBOC opened at $75.90 on Friday. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. International Bancshares Corporation has a 1-year low of $63.19 and a 1-year high of $78.46. The company has a 50-day moving average of $73.39 and a 200 day moving average of $70.88.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results 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 company had revenue of $208.46 million for the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Wall Street Analysts Forecast Growth

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

International Bancshares Company Profile

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.