Louisiana State Employees Retirement System Takes $1.06 Million Position in International Bancshares Corporation $IBOC

Louisiana State Employees Retirement System acquired a new position in International Bancshares Corporation (NASDAQ:IBOC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,700 shares of the bank’s stock, valued at approximately $1,056,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in International Bancshares in the 4th quarter valued at $45,598,000. Azora Capital LP boosted its holdings in International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock valued at $101,277,000 after acquiring an additional 395,984 shares during the period. AQR Capital Management LLC boosted its holdings in International Bancshares by 101.0% during the second quarter. AQR Capital Management LLC now owns 659,381 shares of the bank’s stock valued at $43,888,000 after acquiring an additional 331,256 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of International Bancshares in the third quarter valued at about $18,330,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of International Bancshares by 447.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 268,654 shares of the bank’s stock valued at $17,850,000 after purchasing an additional 219,578 shares during the last quarter. 65.91% of the stock is owned by institutional investors.

International Bancshares Stock Performance

Shares of International Bancshares stock opened at $75.90 on Friday. International Bancshares Corporation has a 1 year low of $63.19 and a 1 year high of $78.46. The company’s fifty day simple moving average is $73.48 and its 200-day simple moving average is $70.91. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 11.33 and a beta of 0.68. 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 released its earnings results on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.04). The company had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Wall Street Analyst Weigh In

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