International Bancshares Corporation $IBOC Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in International Bancshares Corporation (NASDAQ:IBOC) by 2,463.1% in the first quarter, Holdings Channel.com reports. The firm owned 12,559 shares of the bank’s stock after acquiring an additional 12,069 shares during the quarter. Fifth Third Bancorp’s holdings in International Bancshares were worth $845,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Bancshares by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,879 shares of the bank’s stock valued at $151,342,000 after purchasing an additional 45,980 shares during the last quarter. Azora Capital LP raised its position in shares of International Bancshares by 35.1% in the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after buying an additional 395,984 shares during the period. Geode Capital Management LLC boosted its holdings in International Bancshares by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank’s stock valued at $95,385,000 after acquiring an additional 9,496 shares during the last quarter. First Trust Advisors LP grew its position in International Bancshares by 7.4% during the fourth quarter. First Trust Advisors LP now owns 1,364,148 shares of the bank’s stock valued at $90,634,000 after acquiring an additional 93,610 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in International Bancshares by 6.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,091,549 shares of the bank’s stock valued at $72,523,000 after acquiring an additional 70,193 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

International Bancshares stock opened at $76.79 on Monday. The firm has a fifty day moving average of $74.64 and a 200-day moving average of $71.65. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4.77 billion, a P/E ratio of 11.46 and a beta of 0.68.

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

Analyst Ratings Changes

Separately, Weiss Ratings upgraded International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus 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.