Bank of New York Mellon Corp Trims Stock Holdings in International Bancshares Corporation (NASDAQ:IBOC)

Bank of New York Mellon Corp trimmed its position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 482,322 shares of the bank's stock after selling 15,128 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of International Bancshares worth $30,415,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IBOC. Principal Financial Group Inc. boosted its position in International Bancshares by 1.1% during the first quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank's stock valued at $9,753,000 after purchasing an additional 1,741 shares in the last quarter. Convergence Financial LLC purchased a new stake in International Bancshares in the first quarter valued at about $258,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in International Bancshares by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,593 shares of the bank's stock worth $2,734,000 after acquiring an additional 4,881 shares in the last quarter. Diversified Trust Co boosted its holdings in International Bancshares by 2.0% in the first quarter. Diversified Trust Co now owns 19,912 shares of the bank's stock worth $1,256,000 after acquiring an additional 383 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in International Bancshares by 8.9% in the first 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. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Stock Performance

Shares of NASDAQ:IBOC traded down $0.15 during trading on Friday, hitting $69.53. The stock had a trading volume of 168,844 shares, compared to its average volume of 251,692. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 10.58 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $65.72 and a two-hundred day simple moving average of $64.02.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The bank reported $1.56 earnings per share for the quarter. The company had revenue of $198.22 million during the quarter. International Bancshares had a return on equity of 14.84% and a net margin of 39.30%.

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.