International Bancshares (NASDAQ:IBOC) Stock Rating Lowered by StockNews.com

International Bancshares (NASDAQ:IBOC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

International Bancshares Price Performance

NASDAQ IBOC traded up $1.04 during trading hours on Friday, reaching $59.42. 268,475 shares of the stock traded hands, compared to its average volume of 232,894. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50 day simple moving average of $54.39 and a two-hundred day simple moving average of $51.24. International Bancshares has a 1 year low of $39.10 and a 1 year high of $59.54. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 8.98 and a beta of 0.92.

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

Insider Activity

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction on Monday, March 11th. The shares were sold at an average price of $54.22, for a total value of $2,168,800.00. Following the transaction, the director now owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.45% of the stock is owned by corporate insiders.

Institutional Trading of International Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of International Bancshares by 32.0% in the first quarter. BNP Paribas Financial Markets now owns 28,275 shares of the bank’s stock worth $1,587,000 after buying an additional 6,858 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of International Bancshares by 31.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,298 shares of the bank’s stock valued at $2,375,000 after acquiring an additional 10,150 shares during the period. Vest Financial LLC raised its stake in shares of International Bancshares by 231.2% during the first quarter. Vest Financial LLC now owns 15,461 shares of the bank’s stock valued at $868,000 after acquiring an additional 10,793 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of International Bancshares during the first quarter worth about $151,000. Finally, Principal Financial Group Inc. grew its stake in shares of International Bancshares by 2.7% in the first quarter. Principal Financial Group Inc. now owns 222,652 shares of the bank’s stock worth $12,500,000 after purchasing an additional 5,824 shares during 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.