Brandywine Global Investment Management LLC cut its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,699 shares of the bank's stock after selling 5,810 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.23% of International Bancshares worth $9,125,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its holdings in shares of International Bancshares by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the bank's stock valued at $946,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of International Bancshares by 8.9% during the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after buying an additional 222 shares in the last quarter. Hancock Whitney Corp raised its position in International Bancshares by 1.5% during the fourth quarter. Hancock Whitney Corp now owns 19,293 shares of the bank's stock valued at $1,219,000 after buying an additional 281 shares during the period. Cetera Investment Advisers lifted its stake in International Bancshares by 9.2% in the 1st quarter. Cetera Investment Advisers now owns 3,665 shares of the bank's stock worth $231,000 after acquiring an additional 308 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in International Bancshares by 6.1% during the 4th quarter. Quantinno Capital Management LP now owns 5,796 shares of the bank's stock worth $366,000 after acquiring an additional 331 shares during the period. Institutional investors and hedge funds own 65.91% of the company's stock.
International Bancshares Stock Up 4.2%
NASDAQ:IBOC traded up $2.91 on Friday, hitting $71.77. 152,448 shares of the company's stock traded hands, compared to its average volume of 260,309. The company has a market cap of $4.46 billion, a PE ratio of 10.87 and a beta of 0.85. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $76.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $68.16 and a 200-day moving average price of $64.70.
International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share (EPS) 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. Stockholders of record on Friday, August 15th will be paid a $0.70 dividend. This represents a dividend yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date of this dividend is Friday, August 15th. International Bancshares's dividend payout ratio (DPR) is currently 21.15%.
About International Bancshares
(
Free Report)
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.
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