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

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

International Bancshares Stock Down 0.8 %

The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 11.08 and a beta of 0.87. The stock’s 50 day moving average is $62.37 and its 200 day moving average is $60.46.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings 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 buying an additional 306 shares in the last quarter. LRI Investments LLC bought a new position in shares of International Bancshares in the first quarter valued at $117,000. CWM LLC increased its holdings 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 buying an additional 2,156 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of International Bancshares in the first quarter valued at $151,000. Finally, Covestor Ltd increased its holdings in shares of International Bancshares by 14.4% in the first quarter. Covestor Ltd now owns 3,369 shares of the bank’s stock valued at $189,000 after buying an additional 424 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Company Profile

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.