Hsbc Holdings PLC Purchases Shares of 22,500 International Bancshares Corporation $IBOC

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

Other large investors have also modified their holdings of the company. Cetera Investment Advisers boosted its stake in shares of International Bancshares by 5.3% in the fourth quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock valued at $242,000 after purchasing an additional 184 shares during the period. WINTON GROUP Ltd grew its position in shares of International Bancshares by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock worth $1,223,000 after acquiring an additional 196 shares in the last quarter. Hantz Financial Services Inc. increased its stake in International Bancshares by 82.5% during the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares during the last quarter. Quadrant Capital Group LLC raised its stake in International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after acquiring an additional 232 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of International Bancshares by 64.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 782 shares of the bank’s stock worth $52,000 after purchasing an additional 306 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of International Bancshares stock traded up $0.27 during trading on Friday, hitting $75.42. The stock had a trading volume of 216,877 shares, compared to its average volume of 435,844. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $4.69 billion, a P/E ratio of 11.26 and a beta of 0.68. The business has a fifty day moving average of $73.85 and a two-hundred day moving average of $71.05. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46.

International Bancshares (NASDAQ:IBOC) last released its earnings results 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). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The firm had revenue of $208.46 million for the quarter, compared to analyst estimates of $257.28 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, International Bancshares currently has a consensus rating of “Buy” and an average target price of $85.00.

International Bancshares 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.