Short Interest in International Bancshares Co. (NASDAQ:IBOC) Increases By 34.5%
International Bancshares Co. (NASDAQ:IBOC – Get Free Report) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,040,000 shares, a growth of 34.5% from the November 15th total of 773,400 shares. Based on an average daily volume of 197,500 shares, the short-interest ratio is currently 5.3 days. Approximately 2.0% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on shares of International Bancshares in a research note on Thursday, October 5th. They set a “hold” rating for the company.
View Our Latest Stock Report on IBOC
Insider Activity
In other news, Director Antonio R. Sanchez, Jr. sold 45,000 shares of International Bancshares stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $44.79, for a total transaction of $2,015,550.00. Following the sale, the director now directly owns 1,367,245 shares of the company’s stock, valued at $61,238,903.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Antonio R. Sanchez, Jr. sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $49.06, for a total value of $1,226,500.00. Following the completion of the sale, the director now owns 1,839,554 shares of the company’s stock, valued at approximately $90,248,519.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Antonio R. Sanchez, Jr. sold 45,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $44.79, for a total transaction of $2,015,550.00. Following the completion of the sale, the director now directly owns 1,367,245 shares of the company’s stock, valued at approximately $61,238,903.55. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock worth $4,675,150 over the last 90 days. Company insiders own 14.45% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in shares of International Bancshares during the fourth quarter worth about $27,000. US Bancorp DE grew its holdings in International Bancshares by 113.4% in the 1st quarter. US Bancorp DE now owns 798 shares of the bank’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in International Bancshares in the 3rd quarter worth approximately $47,000. Quantbot Technologies LP bought a new position in shares of International Bancshares in the first quarter worth $50,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of International Bancshares in the second quarter worth $57,000. 63.92% of the stock is currently owned by institutional investors.
International Bancshares Stock Performance
Shares of NASDAQ:IBOC traded down $0.98 during trading on Friday, reaching $51.04. 1,135,323 shares of the company’s stock traded hands, compared to its average volume of 236,723. The stock has a market capitalization of $3.17 billion, a P/E ratio of 7.73 and a beta of 0.92. The company has a 50 day moving average of $45.56 and a 200-day moving average of $45.54. International Bancshares has a 12 month low of $39.10 and a 12 month high of $52.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.68 and a quick ratio of 0.68.
International Bancshares Company Profile (Get Free Report)
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.
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