Standpoint Research Downgrades International Bancshares (IBOC) to Hold

Standpoint Research downgraded International Bancshares (NASDAQ: IBOC) from Buy to Hold.

The firm comments, "IBOC shares have hit our price target. The shares have jumped 20.9% since our May 11, 2011 recommendation and are ahead of the S&P-500 by more than 2500 bps; the S&P was down during this holding period. IBOC shares remain attractive, but we can no longer leave our highest recommendation attached to this name give the recent absolute and relative (to the S&P-500 gains); see line 52 in the table below."

For more ratings news on International Bancshares click here and for the rating history of International Bancshares click here.

Shares of International Bancshares closed at $18.46 yesterday, with a 52 week range of $12.41-$21.20.

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