Boston Trust Walden Corp Lowers Position in International Bancshares Corporation $IBOC

Key Points

• Boston Trust Walden Corp reduced its stake in International Bancshares by 4.6% in Q4, selling 57,583 shares and holding 1,191,816 shares (about 1.92% of the company) valued at roughly $79.18 million.
• About 65.91% of IBOC is owned by hedge funds and institutional investors, several firms have recently initiated or increased small positions, and analysts hold a consensus "Buy" rating with a $85 price target.
• International Bancshares last quarter reported an EPS beat of $1.71 vs. $1.63 expected with $217.7M revenue, has a market cap of $4.43B and P/E of 10.77, and recently paid a $0.73 per share dividend (DPR ~22.05%).

Boston Trust Walden Corp cut its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,191,816 shares of the bank's stock after selling 57,583 shares during the period. Boston Trust Walden Corp owned 1.92% of International Bancshares worth $79,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in International Bancshares by 554.4% in the third quarter. Rothschild Investment LLC now owns 589 shares of the bank's stock worth $40,000 after buying an additional 499 shares during the period. Danske Bank A S purchased a new stake in International Bancshares in the third quarter worth about $48,000. Covestor Ltd lifted its holdings in International Bancshares by 19.9% in the third quarter. Covestor Ltd now owns 1,197 shares of the bank's stock worth $82,000 after buying an additional 199 shares during the period. Aquatic Capital Management LLC purchased a new stake in International Bancshares in the third quarter worth about $89,000. Finally, Exchange Traded Concepts LLC purchased a new stake in International Bancshares in the fourth quarter worth about $96,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Loop Capital set a $85.00 price objective on shares of International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of International Bancshares in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $85.00.

International Bancshares Price Performance

IBOC stock opened at $71.30 on Wednesday. The firm has a 50 day moving average price of $69.17 and a 200-day moving average price of $68.69. International Bancshares Corporation has a 52-week low of $58.22 and a 52-week high of $75.44. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 10.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its earnings results on Thursday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.08. International Bancshares had a net margin of 39.04% and a return on equity of 13.41%. The firm had revenue of $217.71 million during the quarter.

International Bancshares Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.73 per share. This represents a dividend yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares's dividend payout ratio (DPR) is presently 22.05%.

International Bancshares Company Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company's offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.

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