International Bancshares (NASDAQ:IBOC) Reaches New 52-Week High – Still a Buy?

International Bancshares Co. (NASDAQ:IBOC) reached a new 52-week high during trading on Monday . The company 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 Stock Down 1.6 %

The company’s 50 day moving average is $64.40 and its 200 day moving average is $61.32. The company has a market cap of $4.60 billion, a PE ratio of 11.49 and a beta of 0.87. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.

Insider Transactions at International Bancshares

In related news, CEO Dennis E. Nixon sold 34,815 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after buying an additional 306 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in International Bancshares in the second quarter worth about $39,000. LRI Investments LLC bought a new position in International Bancshares during the 1st quarter worth about $117,000. CWM LLC increased its position in International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after purchasing an additional 2,156 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of International Bancshares in the 3rd quarter valued at about $202,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Company Profile

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.