International Bancshares (NASDAQ:IBOC) Cut to “Sell” at ValuEngine

International Bancshares (NASDAQ:IBOC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

Separately, BidaskClub upgraded shares of International Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th.

NASDAQ:IBOC traded up $0.45 during trading hours on Monday, reaching $40.29. 185,700 shares of the company were exchanged, compared to its average volume of 210,777. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $38.33 and its 200-day moving average is $37.98. The firm has a market cap of $2.61 billion, a PE ratio of 12.44 and a beta of 1.33. International Bancshares has a twelve month low of $32.04 and a twelve month high of $42.16.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Thursday, August 8th. The bank reported $0.76 earnings per share for the quarter. International Bancshares had a net margin of 32.82% and a return on equity of 10.79%.

In related news, Director Roberto R. Resendez acquired 4,000 shares of International Bancshares stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $32.40 per share, for a total transaction of $129,600.00. Following the completion of the transaction, the director now owns 16,730 shares of the company’s stock, valued at approximately $542,052. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its position in shares of International Bancshares by 0.7% in the second quarter. Jennison Associates LLC now owns 47,626 shares of the bank’s stock valued at $1,796,000 after buying an additional 308 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of International Bancshares by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,027 shares of the bank’s stock valued at $831,000 after buying an additional 311 shares during the last quarter. Arizona State Retirement System raised its position in shares of International Bancshares by 1.1% in the second quarter. Arizona State Retirement System now owns 39,545 shares of the bank’s stock valued at $1,491,000 after buying an additional 437 shares during the last quarter. Quantamental Technologies LLC raised its position in shares of International Bancshares by 241.5% in the second quarter. Quantamental Technologies LLC now owns 782 shares of the bank’s stock valued at $29,000 after buying an additional 553 shares during the last quarter. Finally, Strs Ohio raised its position in shares of International Bancshares by 2.1% in the second quarter. Strs Ohio now owns 29,100 shares of the bank’s stock valued at $1,097,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 59.83% of the company’s stock.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.

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