International Bancshares Corporation $IBOC Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its position in International Bancshares Corporation (NASDAQ:IBOC) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 667,315 shares of the bank’s stock after selling 121,103 shares during the quarter. Reinhart Partners LLC. owned about 1.07% of International Bancshares worth $45,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC raised its holdings in shares of International Bancshares by 48.0% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 6,032 shares of the bank’s stock valued at $415,000 after buying an additional 1,957 shares during the period. Exencial Wealth Advisors LLC purchased a new position in International Bancshares during the 3rd quarter valued at about $1,728,000. State of Alaska Department of Revenue grew its position in International Bancshares by 41.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,475 shares of the bank’s stock valued at $582,000 after acquiring an additional 2,467 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in International Bancshares by 8.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 6,817 shares of the bank’s stock worth $469,000 after purchasing an additional 558 shares during the period. Finally, Diversified Trust Co lifted its position in shares of International Bancshares by 5.7% during the third quarter. Diversified Trust Co now owns 21,298 shares of the bank’s stock worth $1,464,000 after purchasing an additional 1,146 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBOC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of International Bancshares in a report on Wednesday, October 8th. Loop Capital set a $85.00 price objective on International Bancshares in a research note on Wednesday, December 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares Trading Down 0.4%

Shares of IBOC stock opened at $70.38 on Friday. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $73.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $68.16 and a 200-day simple moving average of $68.81. The stock has a market cap of $4.38 billion, a P/E ratio of 10.41 and a beta of 0.73.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, November 6th. The bank reported $1.74 earnings per share (EPS) for the quarter. The company had revenue of $218.08 million for the quarter. International Bancshares had a net margin of 40.10% and a return on equity of 14.20%.

International Bancshares Company Profile

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.