International Bancshares (NASDAQ:IBOC) Cut to Sell at BidaskClub

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

Shares of International Bancshares (IBOC) opened at $42.20 on Friday. International Bancshares has a twelve month low of $32.50 and a twelve month high of $42.90. The company has a market cap of $2,728.88, a P/E ratio of 19.10 and a beta of 1.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.68.

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

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

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in International Bancshares in the 2nd quarter worth approximately $208,000. Quantbot Technologies LP raised its position in International Bancshares by 387.1% during the 2nd quarter. Quantbot Technologies LP now owns 6,819 shares of the bank’s stock worth $239,000 after buying an additional 5,419 shares during the last quarter. Amalgamated Bank raised its position in International Bancshares by 0.9% during the 2nd quarter. Amalgamated Bank now owns 7,811 shares of the bank’s stock worth $274,000 after buying an additional 72 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in International Bancshares during the 2nd quarter worth approximately $303,000. Finally, Suntrust Banks Inc. raised its position in International Bancshares by 0.7% during the 2nd quarter. Suntrust Banks Inc. now owns 9,879 shares of the bank’s stock worth $346,000 after buying an additional 72 shares during 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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