The stock of International Bancshares Corp (NASDAQ:IBOC) hit a new 52-week high and has $41.06 target or 5.00% above today’s $39.10 share price. The 6 months bullish chart indicates low risk for the $2.61 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $41.06 price target is reached, the company will be worth $130.50M 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 79,121 shares traded hands. International Bancshares Corp (NASDAQ:IBOC) has risen 48.04% since April 28, 2016 and is uptrending. It has outperformed by 42.12% the S&P500.
Analysts await International Bancshares Corp (NASDAQ:IBOC) to report earnings on February, 24.
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 decreased to 1.34 in Q2 2016. Its down 0.10, from 1.44 in 2016Q1. The ratio is negative, 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.
Calvert Mgmt Inc, a Maryland-based fund reported 136,652 shares. Legal & General Group Inc Public Ltd Company holds 0% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 14,744 shares. Fmr Lc, a Massachusetts-based fund reported 65,250 shares. Sunbelt Secs Inc last reported 0% of its portfolio in the stock. Victory Capital Mngmt holds 1.04 million shares or 0.11% of its portfolio. Sg Americas Secs Limited holds 0% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 20,096 shares. Voya Inv Mngmt Ltd holds 0% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 26,511 shares. California Pub Employees Retirement Systems holds 0.01% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 119,680 shares. Moreover, Price T Rowe Associates Md has 0% invested in International Bancshares Corp (NASDAQ:IBOC) for 21,954 shares. Vanguard Grp Inc has 4.26 million shares for 0.01% of their US portfolio. Ameritas Invest Prns Inc holds 0.02% of its portfolio in International Bancshares Corp (NASDAQ:IBOC) for 12,939 shares. Citigroup Incorporated holds 0% or 30,145 shares in its portfolio. Strs Ohio, a Ohio-based fund reported 38,500 shares. State Board Of Administration Of Florida Retirement Systems last reported 0% of its portfolio in the stock. Barclays Plc has 4,747 shares for 0% of their US portfolio.
Another recent and important International Bancshares Corp (NASDAQ:IBOC) news was published by Bizjournals.com which published an article titled: “IBC Bank posts bigger profit margin in Q3 despite drop in loans” on November 09, 2016.
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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