International Bancshares (NASDAQ:IBOC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

International Bancshares Corporation (NASDAQ:IBOC) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $68.77 and traded as high as $69.45. International Bancshares shares last traded at $69.26, with a volume of 481,250 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Loop Capital set a $85.00 target price on International Bancshares in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.00.

International Bancshares Stock Performance

The firm has a market capitalization of $4.31 billion, a P/E ratio of 10.25 and a beta of 0.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average price of $68.96 and a two-hundred day moving average price of $68.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its position in International Bancshares by 10.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,785 shares of the bank’s stock valued at $517,000 after purchasing an additional 754 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of International Bancshares by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,833 shares of the bank’s stock worth $786,000 after buying an additional 1,094 shares in the last quarter. Chesley Taft & Associates LLC purchased a new position in shares of International Bancshares during the fourth quarter valued at $233,000. Exchange Traded Concepts LLC bought a new stake in shares of International Bancshares in the fourth quarter valued at about $96,000. Finally, SG Americas Securities LLC lifted its stake in International Bancshares by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 87,567 shares of the bank’s stock worth $5,818,000 after acquiring an additional 14,337 shares during the period. Institutional investors own 65.91% of the company’s stock.

International Bancshares Company Profile

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.