International Bancshares (IBOC) Cut to “Sell” at BidaskClub

International Bancshares (NASDAQ:IBOC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Shares of International Bancshares (NASDAQ IBOC) opened at $39.75 on Thursday. The company has a market cap of $2,573.60, a price-to-earnings ratio of 17.99 and a beta of 1.46. International Bancshares has a 1 year low of $32.50 and a 1 year high of $42.90. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68.

In related news, Director Antonio R. Sanchez, Jr. sold 134,900 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $38.86, for a total value of $5,242,214.00. Following the completion of the sale, the director now owns 1,672,890 shares in the company, valued at approximately $65,008,505.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Antonio R. Sanchez, Jr. sold 300,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $38.91, for a total transaction of $11,673,000.00. Following the completion of the sale, the director now owns 1,672,890 shares of the company’s stock, valued at approximately $65,092,149.90. The disclosure for this sale can be found here. 17.93% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of International Bancshares by 0.9% in the 4th quarter. BlackRock Inc. now owns 5,878,580 shares of the bank’s stock valued at $233,381,000 after buying an additional 49,761 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of International Bancshares by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,529,495 shares of the bank’s stock valued at $181,634,000 after buying an additional 40,009 shares in the last quarter. State Street Corp increased its position in shares of International Bancshares by 2.1% in the 2nd quarter. State Street Corp now owns 2,216,366 shares of the bank’s stock valued at $77,684,000 after buying an additional 45,743 shares in the last quarter. Millennium Management LLC increased its position in shares of International Bancshares by 28.9% in the 4th quarter. Millennium Management LLC now owns 1,140,566 shares of the bank’s stock valued at $45,280,000 after buying an additional 255,881 shares in the last quarter. Finally, Polaris Capital Management LLC increased its position in shares of International Bancshares by 4.4% in the 4th quarter. Polaris Capital Management LLC now owns 1,021,205 shares of the bank’s stock valued at $40,542,000 after buying an additional 43,200 shares in the last quarter. Institutional investors and hedge funds own 57.19% of the company’s stock.

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International Bancshares Company Profile

International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.

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