International Bancshares Co. (NASDAQ:IBOC) Sees Significant Increase in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,210,000 shares, an increase of 17.5% from the May 31st total of 1,030,000 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 214,500 shares, the days-to-cover ratio is presently 5.6 days.

International Bancshares Stock Performance

International Bancshares stock opened at $57.21 on Friday. The firm’s 50 day simple moving average is $56.96 and its 200-day simple moving average is $54.51. The company has a market cap of $3.56 billion, a P/E ratio of 8.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. International Bancshares has a fifty-two week low of $41.96 and a fifty-two week high of $61.46.

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

Insider Activity at International Bancshares

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new position in International Bancshares during the first quarter valued at approximately $117,000. Virtu Financial LLC purchased a new position in International Bancshares during the first quarter valued at approximately $218,000. Janus Henderson Group PLC grew its position in International Bancshares by 73.1% during the first quarter. Janus Henderson Group PLC now owns 44,406 shares of the bank’s stock valued at $2,491,000 after purchasing an additional 18,749 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in International Bancshares by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 33,445 shares of the bank’s stock valued at $1,878,000 after purchasing an additional 1,935 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in International Bancshares during the first quarter valued at approximately $3,120,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th.

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.