SG Americas Securities LLC Has $6.89 Million Holdings in International Bancshares Corporation $IBOC

SG Americas Securities LLC boosted its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,348 shares of the bank’s stock after purchasing an additional 14,781 shares during the period. SG Americas Securities LLC owned about 0.16% of International Bancshares worth $6,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of International Bancshares by 7.1% during the 3rd quarter. American Century Companies Inc. now owns 3,090,223 shares of the bank’s stock worth $212,453,000 after acquiring an additional 204,536 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of International Bancshares by 49.1% in the third quarter. JPMorgan Chase & Co. now owns 210,864 shares of the bank’s stock worth $14,497,000 after purchasing an additional 69,466 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new position in International Bancshares during the third quarter worth $3,512,000. 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 worth $101,277,000 after purchasing an additional 395,984 shares during the last quarter. Finally, First Trust Advisors LP grew its position in International Bancshares by 1.5% in the third quarter. First Trust Advisors LP now owns 1,270,538 shares of the bank’s stock valued at $87,349,000 after purchasing an additional 18,591 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of IBOC opened at $77.82 on Monday. 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 company’s fifty day simple moving average is $73.01 and its 200 day simple moving average is $70.75. International Bancshares Corporation has a 1-year low of $63.19 and a 1-year high of $78.46. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 11.61 and a beta of 0.68.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, May 7th. The bank reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.04). The firm had revenue of $208.46 million during the quarter, compared to the consensus estimate of $257.28 million. International Bancshares had a net margin of 39.33% and a return on equity of 13.16%.

Analyst Upgrades and Downgrades

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