International Bancshares (NASDAQ:IBOC) Sets New 1-Year High – Should You Buy?

International Bancshares Co. (NASDAQ:IBOC)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $75.90 and last traded at $75.76, with a volume of 26078 shares. The stock had previously closed at $73.40.

International Bancshares Price Performance

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 firm’s 50 day moving average is $63.90 and its 200 day moving average is $61.11. The firm has a market cap of $4.71 billion, a P/E ratio of 11.42 and a beta of 0.87.

Insider Buying and Selling

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of IBOC. Vanguard Group Inc. boosted its stake in shares of International Bancshares by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock worth $366,673,000 after buying an additional 152,165 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in International Bancshares by 36.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,562 shares of the bank’s stock valued at $368,000 after purchasing an additional 1,766 shares in the last quarter. Price T Rowe Associates Inc. MD lifted 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. Janus Henderson Group PLC lifted 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. Finally, Virtu Financial LLC purchased a new position in International Bancshares during the first quarter valued at $218,000. 65.91% of the stock is currently owned by hedge funds and other 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.