International Bancshares Corp (IBOC)

IBOC is currently still undervalued, Citron was wrong on this one. This is one of the top performing banks in one of the best performing banking sectors: the southwest. They have no sub-prime exposure, and their real estate investments are centered around Texas, many in Austin, which has remained remarkably unaffected by the housing slump. As more and more of the high volume shorts are squeezed out, I expect IBOC will rise quite a bit.

IBC - Commerce Bank's CEO Ignacio Urrabazo Jr. Appointed To FDIC Advisory Committee on Community Banking. Ignacio Urrabazo is the only Texan appointed to serve of the committee. Citron was wrong and its about time they issue a positive report on a stock. But then again, they are in the business of shorting...right. Cautious investing to all...especially those following Citron's postings.

Did Citron let me down on this one? Say it ain't so!

Financial stocks carry a P/E ratio of 22.4, and the so-called "recovery" has been especially strong in bank stocks. Therefore, I’m concentrating my shorting interest in the banking sector.

What with 1) many banks going under or being acquired or 2) existing banks tightening belts by closing excess branches, I've seen the opportunity for a player to come in and claim a substantial portion of the freeing-up market share increase dramatically here in Texas, one of the states that the regional IBC Bank operates in. Insiders have been buying up its shares and they've (in a very Lynch-oriented observation) been starting aggressive marketing and advertising campaigns, even expanding. Financially, they're solvent and the management has won awards for their industry-leading efficiency and service.

Another Citron Research one. And big exposure to commercial real estate.

Recent news regarding the Texas and Oklahoma economies and analyst estimates has led me to rethink my initial report regarding IBOC.

Because Citron said so.

Citron

Commerical real estate construction in Texas, like most of America is in severe decline and appears likely to stay down even after the recession economy improves. This was IBOC's cash cow. IBOC has greater exposure to this market than any of its competitors, yet they denied the harsh reality of pending defaults and severely-limited new business in their earnings forecast. The share price doesn't fully reflect this predicament because investors seem to believe all banks will continue to be bailed out beyond TARP money and reason.

Commercial real estate is the next thing to crash.

Another survivor I do believe.

IBOC is probably one of the best bank picks in the last 15 years. IBOC services Texas and Oklahoma which have not felt the effects of the economic downturn like California, Arizona, Florida and Nevada. Trading well below its book value. Well capitalized with no subprime exposure.

IBOC has been unfairly beaten down by Citron, Andrew Left and their cronies of short sellers. The SEC is considering restoring the uptick rule which puts the brakes on short-selling in falling markets. The uptick rule was initially created following the stock market crash of 1929 to prevent bearish investors from ganging up on shares like IBOC.

Accepting TARP, prevented the Board of Directors from buying back its own stock and stabalizing the stock price. That explains the rapid decline in stock price following its IBOC's acceptance of TARP funds.

Buy IBOC...don't short sell it.

Citron

Joining the Citron crowd. Especially like the links to the S&L scam.

I like gambling when Citron Research is on my side...
See: http://www.citronresearch.com/index.php/2009/03/23/citron-examines-international-bancshares-nasdaqiboc/

Citron vs. Bernanke/Geithner Citron!

great stock

I feel dirty for using Citron, but oh well.

http://www.citronresearch.com/index.php/2009/03/23/citron-examines-international-bancshares-nasdaqiboc/