International Bancshares (NASDAQ:IBOC) Hits New 1-Year High – What’s Next?

International Bancshares Co. (NASDAQ:IBOC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $73.82 and last traded at $73.60, with a volume of 8678 shares traded. The stock had previously closed at $73.08.

International Bancshares Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day simple moving average is $62.37 and its 200-day simple moving average is $60.46. The stock has a market cap of $4.43 billion, a P/E ratio of 11.08 and a beta of 0.87.

Hedge Funds Weigh In On International Bancshares

Large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of International Bancshares by 141.0% in the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of International Bancshares in the second quarter valued at approximately $39,000. LRI Investments LLC acquired a new stake in shares of International Bancshares in the first quarter valued at approximately $117,000. CWM LLC increased its stake in shares of International Bancshares by 5,673.7% in the third quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after purchasing an additional 2,156 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of International Bancshares in the first quarter valued at approximately $151,000. 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.