International Bancshares Corporation $IBOC Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has decreased its holdings in International Bancshares Corporation by 4.8%, now owning 328,125 shares worth approximately $20.4 million.
• Institutional investors own 65.91% of International Bancshares, with notable increases in holdings from firms like American Century Companies Inc. (up 37.9%) and Azora Capital LP (up 28.4%) during the first quarter.
• International Bancshares increased its semi-annual dividend to $0.70, marking a 200.0% yield, up from the previous amount of $0.66.

AQR Capital Management LLC cut its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,125 shares of the bank's stock after selling 16,520 shares during the period. AQR Capital Management LLC owned approximately 0.53% of International Bancshares worth $20,439,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of International Bancshares during the 4th quarter valued at approximately $441,000. Balyasny Asset Management L.P. acquired a new stake in International Bancshares during the fourth quarter worth $1,916,000. Cetera Investment Advisers purchased a new stake in International Bancshares in the fourth quarter valued at $212,000. Deutsche Bank AG lifted its stake in shares of International Bancshares by 34.6% in the 4th quarter. Deutsche Bank AG now owns 69,871 shares of the bank's stock valued at $4,413,000 after purchasing an additional 17,971 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of International Bancshares by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 54,245 shares of the bank's stock worth $3,428,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Trading Down 1.0%

Shares of NASDAQ:IBOC traded down $0.69 during midday trading on Friday, reaching $70.60. 122,636 shares of the company's stock were exchanged, compared to its average volume of 194,656. The firm's 50 day simple moving average is $70.01 and its two-hundred day simple moving average is $65.33. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 10.66 and a beta of 0.87.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its 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 announced a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.70 dividend. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date was Friday, August 15th. This represents a yield of 200.0%. International Bancshares's payout ratio is 21.15%.

International Bancshares 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.