Bank of America Corp DE Cuts Stake in International Bancshares Co. (NASDAQ:IBOC)

Bank of America Corp DE cut its stake in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,498 shares of the bank's stock after selling 4,431 shares during the period. Bank of America Corp DE owned approximately 0.14% of International Bancshares worth $5,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBOC. Sterling Capital Management LLC boosted its holdings in International Bancshares by 836.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank's stock valued at $110,000 after purchasing an additional 1,555 shares during the last quarter. KBC Group NV increased its position in shares of International Bancshares by 71.2% during the 4th quarter. KBC Group NV now owns 2,612 shares of the bank's stock worth $165,000 after purchasing an additional 1,086 shares during the last quarter. Monument Capital Management raised its holdings in International Bancshares by 12.1% in the 4th quarter. Monument Capital Management now owns 3,955 shares of the bank's stock valued at $250,000 after buying an additional 427 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in International Bancshares in the fourth quarter valued at about $310,000. Finally, Cibc World Markets Corp acquired a new stake in shares of International Bancshares during the fourth quarter valued at about $320,000. Institutional investors and hedge funds own 65.91% of the company's stock.

International Bancshares Trading Down 0.8%

Shares of International Bancshares stock traded down $0.48 on Friday, reaching $62.71. The company had a trading volume of 281,858 shares, compared to its average volume of 256,120. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $3.90 billion, a PE ratio of 9.75 and a beta of 0.83. The firm's 50 day moving average price is $61.56 and its two-hundred day moving average price is $64.80. International Bancshares Co. has a 52-week low of $53.33 and a 52-week high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The bank reported $1.56 EPS for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%. The company had revenue of $198.22 million for the quarter.

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.