Advantage Alpha Capital Partners LP Decreases Position in International Bancshares Corporation $IBOC

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in International Bancshares Corporation by 60.8% during the 1st quarter, leaving it with 3,367 shares valued at $212,000.
• International Bancshares announced a dividend increase to $0.70 per share, with the ex-dividend date set for August 15th, representing a yield of 200.0%.
• Shares of International Bancshares have seen a 5.1% increase and currently trade at $72.36, with a market cap of $4.50 billion.

Advantage Alpha Capital Partners LP reduced its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,367 shares of the bank's stock after selling 5,225 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in International Bancshares were worth $212,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of International Bancshares by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank's stock worth $9,753,000 after acquiring an additional 1,741 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of International Bancshares by 183.1% during the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock worth $71,000 after acquiring an additional 727 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of International Bancshares by 8.9% during the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock worth $171,000 after acquiring an additional 222 shares in the last quarter. SG Americas Securities LLC purchased a new position in International Bancshares in the 1st quarter valued at about $1,255,000. Finally, Janney Montgomery Scott LLC lifted its stake in International Bancshares by 14.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,091 shares of the bank's stock valued at $573,000 after buying an additional 1,166 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

International Bancshares stock traded up $0.16 during midday trading on Tuesday, reaching $72.43. The company had a trading volume of 251,159 shares, compared to its average volume of 261,692. The company has a market capitalization of $4.50 billion, a P/E ratio of 10.94 and a beta of 0.85. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The firm's fifty day simple moving average is $68.57 and its 200-day simple moving average is $64.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share for the quarter. International Bancshares had a net margin of 39.51% and a return on equity of 14.37%.

International Bancshares Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio is 21.15%.

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.