International Bancshares (NASDAQ:IBOC) Hits New 1-Year High at $68.46

International Bancshares Co. (NASDAQ:IBOC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $68.46 and last traded at $67.11, with a volume of 11144 shares traded. The stock had previously closed at $67.56.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th.

International Bancshares Price Performance

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.17 billion, a PE ratio of 10.31 and a beta of 0.89. The firm’s fifty day simple moving average is $58.01 and its 200-day simple moving average is $55.55.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, May 2nd. The bank reported $1.56 earnings per share for the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%. The firm had revenue of $205.85 million during the quarter.

Insider Activity at International Bancshares

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of International Bancshares stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total value of $1,799,192.00. Following the completion of the transaction, the director now directly owns 1,282,133 shares of the company’s stock, valued at approximately $76,607,446.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its position in shares of International Bancshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 66,842 shares of the bank’s stock worth $3,631,000 after buying an additional 213 shares during the last quarter. Comerica Bank lifted its stake in shares of International Bancshares by 1.4% in the 4th quarter. Comerica Bank now owns 21,782 shares of the bank’s stock valued at $1,183,000 after purchasing an additional 295 shares during the period. State of Michigan Retirement System raised its position in International Bancshares by 2.3% during the first quarter. State of Michigan Retirement System now owns 13,112 shares of the bank’s stock worth $736,000 after acquiring an additional 300 shares during the period. Blue Trust Inc. raised its position in International Bancshares by 141.0% during the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after acquiring an additional 306 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of International Bancshares by 2.7% during the first quarter. Louisiana State Employees Retirement System now owns 15,400 shares of the bank’s stock worth $865,000 after buying an additional 400 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.