Federated Hermes Inc. Has $309,000 Stock Holdings in International Bancshares Co. (NASDAQ:IBOC)

Federated Hermes Inc. lowered its stake in International Bancshares Co. (NASDAQ:IBOC) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,695 shares of the bank’s stock after selling 619 shares during the quarter. Federated Hermes Inc.’s holdings in International Bancshares were worth $309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IBOC. Strs Ohio grew its stake in International Bancshares by 333.3% in the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of International Bancshares by 37.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after buying an additional 711 shares in the last quarter. Covestor Ltd increased its holdings in International Bancshares by 69.9% during the third quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock worth $118,000 after buying an additional 1,118 shares during the last quarter. Vest Financial LLC bought a new stake in International Bancshares during the fourth quarter worth $254,000. Finally, Westover Capital Advisors LLC raised its position in International Bancshares by 25.5% during the third quarter. Westover Capital Advisors LLC now owns 6,316 shares of the bank’s stock worth $274,000 after acquiring an additional 1,283 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of International Bancshares from a “hold” rating to a “sell” rating in a research report on Friday.

Insider Buying and Selling at International Bancshares

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.45% of the company’s stock.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $59.42 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $54.39 and its two-hundred day moving average price is $51.29. The company has a market cap of $3.69 billion, a PE ratio of 9.07 and a beta of 0.92. International Bancshares Co. has a twelve month low of $39.10 and a twelve month high of $59.54.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. International Bancshares had a return on equity of 17.89% and a net margin of 40.92%. The business had revenue of $211.03 million for the quarter.

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.