Kovack Advisors Inc. Has $9.06 Million Stake in International Bancshares Corporation $IBOC

Kovack Advisors Inc. cut its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 6.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,139 shares of the bank’s stock after selling 10,050 shares during the quarter. International Bancshares accounts for about 0.9% of Kovack Advisors Inc.’s portfolio, making the stock its 17th biggest holding. Kovack Advisors Inc. owned about 0.22% of International Bancshares worth $9,061,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of International Bancshares by 183.1% in the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank’s stock valued at $71,000 after purchasing an additional 727 shares during the last quarter. Janney Montgomery Scott LLC grew its position in International Bancshares by 14.7% in the first quarter. Janney Montgomery Scott LLC now owns 9,091 shares of the bank’s stock valued at $573,000 after purchasing an additional 1,166 shares in the last quarter. Bessemer Group Inc. increased its stake in International Bancshares by 8.9% in the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank’s stock valued at $171,000 after buying an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in International Bancshares by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,593 shares of the bank’s stock worth $2,734,000 after buying an additional 4,881 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of International Bancshares by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank’s stock worth $9,753,000 after buying an additional 1,741 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Down 0.5%

International Bancshares stock opened at $66.16 on Friday. The stock has a 50-day simple moving average of $69.16 and a 200 day simple moving average of $66.82. The stock has a market capitalization of $4.11 billion, a P/E ratio of 9.99 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of International Bancshares in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, International Bancshares presently has a consensus rating of “Buy”.

International Bancshares 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.