Shares of International Bancshares Co. (NASDAQ:IBOC – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $56.89 and last traded at $56.68, with a volume of 31404 shares. The stock had previously closed at $55.65.
Analyst Ratings Changes
Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.
View Our Latest Report on International Bancshares
International Bancshares Stock Up 2.5 %
International Bancshares (NASDAQ:IBOC – Get Free Report) last released its quarterly earnings data on Monday, February 26th. The bank reported $1.71 EPS for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%.
Insiders Place Their Bets
In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $54.22, for a total value of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares in the company, valued at $71,149,923.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.45% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of IBOC. Norges Bank acquired a new position in shares of International Bancshares during the fourth quarter worth about $32,057,000. Boston Trust Walden Corp boosted its position in International Bancshares by 77.2% during the fourth quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after purchasing an additional 444,674 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in International Bancshares during the first quarter valued at approximately $7,765,000. First Trust Advisors LP boosted its position in International Bancshares by 26.4% during the fourth quarter. First Trust Advisors LP now owns 651,845 shares of the bank’s stock valued at $35,408,000 after purchasing an additional 136,043 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in International Bancshares by 1,035.5% during the third quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank’s stock valued at $4,407,000 after purchasing an additional 92,722 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.
About International Bancshares
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
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