Hsbc Holdings PLC Makes New Investment in International Bancshares Corporation $IBOC

Hsbc Holdings PLC bought a new stake in shares of International Bancshares Corporation (NASDAQ:IBOC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,500 shares of the bank’s stock, valued at approximately $1,500,000.

A number of other institutional investors have also recently made changes to their positions in IBOC. Hantz Financial Services Inc. grew its stake in shares of International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after acquiring an additional 221 shares during the period. Quadrant Capital Group LLC raised its stake in International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after buying an additional 232 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of International Bancshares during the 4th quarter valued at $47,000. Danske Bank A S bought a new position in shares of International Bancshares during the 3rd quarter valued at $48,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of International Bancshares by 64.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock worth $52,000 after buying an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Down 0.2%

IBOC opened at $75.95 on Wednesday. The firm’s 50 day simple moving average is $73.20 and its two-hundred day simple moving average is $70.83. The company has a market capitalization of $4.72 billion, a PE ratio of 11.34 and a beta of 0.68. International Bancshares Corporation has a 1-year low of $63.19 and a 1-year high of $78.46. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The business had revenue of $208.46 million for the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised International Bancshares from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, International Bancshares has a consensus rating of “Strong Buy” and an average target price of $85.00.

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.