International Bancshares Co. (NASDAQ:IBOC) Sees Large Decline in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,030,000 shares, a drop of 5.5% from the May 15th total of 1,090,000 shares. Based on an average daily volume of 231,300 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.9% of the shares of the stock are sold short.

International Bancshares Stock Performance

Shares of IBOC stock opened at $54.69 on Tuesday. The company’s fifty day moving average price is $56.57 and its 200-day moving average price is $54.12. The stock has a market cap of $3.40 billion, a PE ratio of 8.35 and a beta of 0.89. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. International Bancshares has a 12 month low of $41.96 and a 12 month high of $61.46.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, May 2nd. The bank reported $1.56 earnings per share for the quarter. The company had revenue of $205.85 million during the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th.

Insiders Place Their Bets

In other news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of International Bancshares stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the completion of the sale, the director now owns 1,282,133 shares in the company, valued at approximately $76,607,446.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Bancshares

Large investors have recently made changes to their positions in the company. Pathstone Family Office LLC increased its position in International Bancshares by 77.2% in the third quarter. Pathstone Family Office LLC now owns 9,775 shares of the bank’s stock worth $424,000 after buying an additional 4,260 shares in the last quarter. Rhumbline Advisers lifted its holdings in International Bancshares by 3.3% during the third quarter. Rhumbline Advisers now owns 207,493 shares of the bank’s stock valued at $8,993,000 after purchasing an additional 6,611 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of International Bancshares by 46.7% in the third quarter. Brandywine Global Investment Management LLC now owns 188,577 shares of the bank’s stock worth $8,173,000 after purchasing an additional 60,031 shares during the period. Dark Forest Capital Management LP bought a new position in International Bancshares in the 3rd quarter worth $774,000. Finally, Covestor Ltd boosted its holdings in International Bancshares by 69.9% in the 3rd quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock worth $118,000 after buying an additional 1,118 shares during the period. 65.91% of the stock is currently owned by institutional investors.

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.