AlphaQuest LLC Purchases 9,618 Shares of International Bancshares Corporation $IBOC

AlphaQuest LLC lifted its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 85.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,851 shares of the bank’s stock after purchasing an additional 9,618 shares during the quarter. AlphaQuest LLC’s holdings in International Bancshares were worth $1,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in IBOC. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 331,256 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of International Bancshares during the third quarter valued at approximately $18,330,000. Millennium Management LLC boosted its position in shares of International Bancshares by 56.6% during the third quarter. Millennium Management LLC now owns 603,574 shares of the bank’s stock valued at $41,496,000 after purchasing an additional 218,039 shares in the last quarter. American Century Companies Inc. boosted its position in shares of International Bancshares by 7.1% during the third quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock valued at $212,453,000 after purchasing an additional 204,536 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of International Bancshares by 49.1% during the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock valued at $14,497,000 after purchasing an additional 69,466 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Trading Down 1.1%

International Bancshares stock opened at $72.23 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $70.52 and its two-hundred day simple moving average is $69.52. International Bancshares Corporation has a 12 month low of $61.15 and a 12 month high of $75.44. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 10.78 and a beta of 0.69.

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). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The company had revenue of $208.46 million during the quarter, compared to the consensus estimate 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 research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, International Bancshares 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.