International Bancshares Co. (NASDAQ:IBOC) sees sharp drop in short-term interest

International Bancshares Co. (NASDAQ:IBOC) was the target of a significant drop in short interest during the month of December. As of December 31, there was short interest totaling 593,700 shares, a decrease of 49.7% from the total of 1,180,000 shares as of December 15. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 205,700 shares, the short interest ratio is currently 2.9 days.

Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. FORA Capital LLC acquired a new position in International Bancshares during the second quarter worth approximately $42,000. FMR LLC increased its position in International Bancshares by 203.3% during the second quarter. FMR LLC now owns 1,492 shares of the bank valued at $64,000 after buying an additional 1,000 shares last quarter. Fieldpoint Private Securities LLC increased its position in International Bancshares by 12.8% during the second quarter. Fieldpoint Private Securities LLC now owns 2,205 shares of the bank valued at $94,000 after buying 251 additional shares last quarter. Royal Bank of Canada increased its position in International Bancshares by 219.3% during the third quarter. Royal Bank of Canada now owns 4,607 shares of the bank valued at $193,000 after buying 3,164 more shares last quarter. Finally, Jefferies Group LLC acquired a new position in International Bancshares during the third quarter worth approximately $204,000. 62.58% of the shares are currently held by institutional investors and hedge funds.

Shares of IBOC traded at $0.63 during Friday’s midday session, hitting $45.78. The company had a trading volume of 170,834 shares, compared to an average volume of 205,636. The company’s 50-day simple moving average is $43.35 and its 200-day simple moving average is 42.16 $. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt ratio of 0.25. International Bancshares has a 1-year low of $37.35 and a 1-year high of $53.06. The stock has a market capitalization of $2.90 billion, a PE ratio of 11.83 and a beta of 1.18.

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International Bancshares (NASDAQ:IBOC) last released its results on Thursday, November 4. The bank reported earnings per share (EPS) of $0.86 for the quarter. International Bancshares had a net margin of 39.82% and a return on equity of 10.98%.

International Bancshares Company Profile

International Bancshares Corp. is a financial holding company that provides banking services to commercial, consumer and international clients in South, Central and Southeast Texas and the State of Oklahoma. It is engaged in banking activities, including accepting check and savings deposits and granting commercial, real estate, personal, home improvement, automobile and other loans, both installment and term.

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