International Bancshares (NASDAQ:IBOC) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of International Bancshares (NASDAQ:IBOC) from a hold rating to a sell rating in a report published on Friday, January 5th.

International Bancshares (NASDAQ:IBOC) traded up $0.45 during mid-day trading on Friday, hitting $42.05. The stock had a trading volume of 113,484 shares, compared to its average volume of 248,952. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2,780.00, a price-to-earnings ratio of 19.03 and a beta of 1.50. International Bancshares has a 1-year low of $32.50 and a 1-year high of $42.90.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Wednesday, November 8th. The bank reported $0.59 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 8.34% and a net margin of 26.36%.

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

A number of institutional investors have recently modified their holdings of IBOC. Cubist Systematic Strategies LLC acquired a new position in International Bancshares during the second quarter worth $208,000. Quantbot Technologies LP lifted its stake in International Bancshares by 387.1% during the second quarter. Quantbot Technologies LP now owns 6,819 shares of the bank’s stock worth $239,000 after purchasing an additional 5,419 shares in the last quarter. Amalgamated Bank lifted its stake in International Bancshares by 0.9% during the second quarter. Amalgamated Bank now owns 7,811 shares of the bank’s stock worth $274,000 after purchasing an additional 72 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in International Bancshares during the second quarter worth $303,000. Finally, Suntrust Banks Inc. lifted its stake in International Bancshares by 0.7% during the second quarter. Suntrust Banks Inc. now owns 9,879 shares of the bank’s stock worth $346,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 57.00% of the company’s stock.

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About International Bancshares

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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