International Bancshares Corporation (IBOC) Issues Earnings Results
International Bancshares Corporation (NASDAQ:IBOC) announced its quarterly earnings results on Monday. The bank reported $0.61 EPS for the quarter, Bloomberg Earnings reports.
Shares of International Bancshares Corporation (IBOC) traded up 2.24% on Tuesday, reaching $36.45. 46,059 shares of the company’s stock were exchanged. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 18.23 and a beta of 1.52. International Bancshares Corporation has a 12 month low of $25.78 and a 12 month high of $42.25. The firm’s 50-day moving average price is $35.29 and its 200 day moving average price is $36.05.
In other International Bancshares Corporation news, VP R David Guerra sold 1,875 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $36.04, for a total transaction of $67,575.00. Following the transaction, the vice president now owns 2,500 shares in the company, valued at approximately $90,100. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.93% of the company’s stock.
International Bancshares Corporation declared that its Board of Directors has approved a share repurchase program on Friday, April 21st that allows the company to buyback $40.00 million in shares. This buyback authorization allows the bank to buy up to 1.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Separately, BidaskClub cut shares of International Bancshares Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th.
About International Bancshares Corporation
International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
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