International Bancshares Corp (NASDAQ:IBOC) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 919,100 shares, a decline of 7.9% from the April 30th total of 997,400 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 354,600 shares, the days-to-cover ratio is presently 2.6 days.
Shares of IBOC traded down $0.48 during mid-day trading on Friday, hitting $28.48. The company had a trading volume of 145,250 shares, compared to its average volume of 283,802. The stock has a market cap of $1.83 billion, a PE ratio of 10.16 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.40. International Bancshares has a 1-year low of $15.60 and a 1-year high of $44.00. The business’s 50-day simple moving average is $27.00 and its 200-day simple moving average is $35.85.
International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings results on Thursday, May 7th. The bank reported $0.53 earnings per share for the quarter. International Bancshares had a net margin of 29.42% and a return on equity of 8.96%.
Institutional investors and hedge funds have recently bought and sold shares of the company. AlphaCrest Capital Management LLC purchased a new stake in shares of International Bancshares during the fourth quarter valued at approximately $711,000. Citigroup Inc. increased its stake in shares of International Bancshares by 257.7% in the fourth quarter. Citigroup Inc. now owns 31,635 shares of the bank’s stock worth $1,362,000 after buying an additional 22,791 shares during the last quarter. Chicago Equity Partners LLC increased its stake in shares of International Bancshares by 25.7% in the fourth quarter. Chicago Equity Partners LLC now owns 26,005 shares of the bank’s stock worth $1,120,000 after buying an additional 5,325 shares during the last quarter. Norges Bank bought a new stake in shares of International Bancshares in the fourth quarter worth $37,837,000. Finally, Ziegler Capital Management LLC bought a new stake in shares of International Bancshares in the first quarter worth $1,168,000. Institutional investors own 61.48% of the company’s stock.
Several research firms recently issued reports on IBOC. ValuEngine raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. BidaskClub raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday.
International Bancshares Company Profile
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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