International Bancshares (NASDAQ:IBOC) Reaches New 52-Week High at $56.55

International Bancshares Co. (NASDAQ:IBOC)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $56.55 and last traded at $56.53, with a volume of 75802 shares trading hands. The stock had previously closed at $56.17.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

International Bancshares Trading Up 0.3 %

The business’s 50-day moving average is $53.81 and its two-hundred day moving average is $50.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $3.49 billion, a PE ratio of 8.48 and a beta of 0.94.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%. The firm had revenue of $211.03 million for the quarter.

International Bancshares Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a dividend yield of 2.5%. This is an increase from International Bancshares’s previous semi-annual dividend of $0.63. International Bancshares’s dividend payout ratio is currently 19.94%.

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the transaction, the director now owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 14.45% of the company’s stock.

Institutional Trading of International Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in International Bancshares in the fourth quarter valued at approximately $32,057,000. Boston Trust Walden Corp grew its position in International Bancshares by 77.2% in the fourth quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after acquiring an additional 444,674 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in International Bancshares in the first quarter valued at approximately $7,765,000. First Trust Advisors LP grew its position in International Bancshares by 26.4% in the fourth quarter. First Trust Advisors LP now owns 651,845 shares of the bank’s stock valued at $35,408,000 after acquiring an additional 136,043 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in International Bancshares by 1,035.5% in the third quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank’s stock valued at $4,407,000 after acquiring an additional 92,722 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Company Profile

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.