Stock Mover of The Day: Time to Reconsider International Bancshares Corp After Making 52-Week High?

Stock Mover of The Day: Time to Reconsider International Bancshares Corp After Making 52 Week High?

The stock of International Bancshares Corp (NASDAQ:IBOC) hit a new 52-week high and has $51.38 target or 66.00% above today’s $30.95 share price. The 6 months bullish chart indicates low risk for the $2.00B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $51.38 price target is reached, the company will be worth $1.32 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 43,119 shares traded hands. International Bancshares Corp (NASDAQ:IBOC) has risen 24.84% since April 5, 2016 and is uptrending. It has outperformed by 22.89% the S&P500.

According to Zacks Investment Research, “INTL BANCSHARES is a bank holding company with bank subsidiaries providing commercial and retail banking services through main banking and branch facilities located in communities in South and Southeast Texas.”

Insitutional Activity: The institutional sentiment increased to 1.44 in 2016 Q2. Its up 0.42, from 1.02 in 2016Q1. The ratio improved, as 10 funds sold all International Bancshares Corp shares owned while 42 reduced positions. 16 funds bought stakes while 59 increased positions. They now own 35.93 million shares or 2.38% less from 36.80 million shares in 2016Q1.
Principal Fincl Grp Incorporated has 210,352 shares for 0.01% of their US portfolio. Highbridge Cap Management Lc last reported 8,508 shares in the company. Pub Employees Retirement Association Of Colorado has 0% invested in the company for 16,333 shares. Aperio Group Inc Ltd has 0% invested in the company for 14,673 shares. Fincl Bank Of New York Mellon last reported 0.01% of its portfolio in the stock. Citadel Lc accumulated 0% or 52,115 shares. Tiaa Cref Investment Mngmt Limited holds 172,161 shares or 0% of its portfolio. Northern Trust Corp has 0.02% invested in the company for 1.87M shares. Victory Capital Mgmt holds 1.04 million shares or 0.11% of its portfolio. Aqr Cap Management Limited accumulated 0.01% or 110,885 shares. Thrivent For Lutherans holds 7,770 shares or 0% of its portfolio. Parametric Portfolio Limited Liability has 100,830 shares for 0% of their US portfolio. Wfg Lp holds 0% or 545 shares in its portfolio. Texas Permanent School Fund holds 0.01% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 42,354 shares. State Board Of Administration Of Florida Retirement Sys holds 42,528 shares or 0% of its portfolio.

More recent International Bancshares Corp (NASDAQ:IBOC) news were published by: Expressnews.com which released: “Backlash for bank following Trump endorsement” on June 16, 2016. Also Bizjournals.com published the news titled: “IBC Bank posts slimmer profit margin in Q2 2016, bigger dividend” on September 27, 2016. Nasdaq.com‘s news article titled: “International Bancshares Corporation (IBOC) Ex-Dividend Date Scheduled for …” with publication date: September 27, 2016 was also an interesting one.

IBOC Company Profile

International Bancshares Corporation, incorporated on June 7, 1995, is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The primary markets of the Company are South, Central, and Southeast Texas and the state of Oklahoma. The Company’s banking subsidiaries facilitate international trade along the United States border with Mexico and elsewhere. The Bank’s subsidiaries primarily focus on providing commercial banking services to small and medium sized businesses located in their trade areas.

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