International Bancshares (IBOC) Cut to “Sell” at BidaskClub

International Bancshares (NASDAQ:IBOC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Shares of International Bancshares (NASDAQ:IBOC) opened at $39.65 on Friday. International Bancshares has a twelve month low of $32.50 and a twelve month high of $42.90. The company has a market capitalization of $2,640.00, a P/E ratio of 17.94 and a beta of 1.50. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Wednesday, November 8th. The bank reported $0.59 EPS for the quarter. International Bancshares had a return on equity of 8.34% and a net margin of 26.36%.

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 134,900 shares of International Bancshares stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $38.86, for a total value of $5,242,214.00. Following the transaction, the director now owns 1,672,890 shares in the company, valued at $65,008,505.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Antonio R. Sanchez, Jr. sold 300,000 shares of International Bancshares stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $38.91, for a total transaction of $11,673,000.00. Following the transaction, the director now owns 1,672,890 shares in the company, valued at $65,092,149.90. The disclosure for this sale can be found here. Insiders own 17.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in International Bancshares by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,529,495 shares of the bank’s stock worth $181,634,000 after purchasing an additional 40,009 shares in the last quarter. State Street Corp grew its position in International Bancshares by 2.1% during the 2nd quarter. State Street Corp now owns 2,216,366 shares of the bank’s stock worth $77,684,000 after purchasing an additional 45,743 shares in the last quarter. Northern Trust Corp grew its position in International Bancshares by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,953,897 shares of the bank’s stock worth $68,484,000 after purchasing an additional 25,918 shares in the last quarter. Prudential Financial Inc. grew its position in International Bancshares by 11.9% during the 3rd quarter. Prudential Financial Inc. now owns 909,644 shares of the bank’s stock worth $36,476,000 after purchasing an additional 96,750 shares in the last quarter. Finally, Polaris Capital Management LLC grew its position in International Bancshares by 1.6% during the 2nd quarter. Polaris Capital Management LLC now owns 849,405 shares of the bank’s stock worth $29,772,000 after purchasing an additional 13,600 shares in the last quarter. Hedge funds and other institutional investors own 57.00% of the company’s stock.

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International Bancshares Company Profile

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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