SG Americas Securities LLC Sells 8,614 Shares of International Bancshares Corporation $IBOC

SG Americas Securities LLC reduced its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,230 shares of the bank’s stock after selling 8,614 shares during the quarter. SG Americas Securities LLC owned approximately 0.12% of International Bancshares worth $5,035,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IBOC. American Century Companies Inc. raised its position in International Bancshares by 19.3% in the 2nd quarter. American Century Companies Inc. now owns 2,885,687 shares of the bank’s stock valued at $192,071,000 after purchasing an additional 466,929 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of International Bancshares by 2.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,192,298 shares of the bank’s stock worth $145,919,000 after purchasing an additional 50,339 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of International Bancshares by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock valued at $94,142,000 after buying an additional 13,936 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of International Bancshares by 0.5% in the second quarter. Boston Trust Walden Corp now owns 1,405,068 shares of the bank’s stock valued at $93,521,000 after buying an additional 7,019 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of International Bancshares by 1.7% in the second quarter. First Trust Advisors LP now owns 1,251,947 shares of the bank’s stock valued at $83,330,000 after buying an additional 21,250 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBOC has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a report on Wednesday, October 8th. Loop Capital set a $85.00 target price on shares of International Bancshares in a research report on Wednesday, December 31st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.00.

International Bancshares Price Performance

International Bancshares stock opened at $69.86 on Friday. The business’s 50-day simple moving average is $68.00 and its 200 day simple moving average is $68.72. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 10.33 and a beta of 0.73. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $73.65.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, November 6th. The bank reported $1.74 earnings per share for the quarter. The firm had revenue of $218.08 million during the quarter. International Bancshares had a return on equity of 14.20% and a net margin of 40.10%.

About International Bancshares

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.