Dimensional Fund Advisors LP Increases Stock Position in International Bancshares Corporation $IBOC

Dimensional Fund Advisors LP lifted its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,186,820 shares of the bank’s stock after buying an additional 9,468 shares during the period. Dimensional Fund Advisors LP owned approximately 5.13% of International Bancshares worth $214,442,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after purchasing an additional 221 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after purchasing an additional 232 shares in the last quarter. Danske Bank A S purchased a new stake in shares of International Bancshares during the 3rd quarter worth about $48,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of International Bancshares during the 4th quarter worth about $47,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Stock Up 1.4%

NASDAQ IBOC opened at $76.79 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46. The business has a 50 day moving average price of $74.64 and a two-hundred day moving average price of $71.63. The stock has a market cap of $4.77 billion, a PE ratio of 11.46 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last posted 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 firm had revenue of $208.46 million for the quarter, compared to analysts’ expectations of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average price target 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.