Brandywine Global Investment Management LLC Sells 5,810 Shares of International Bancshares Corporation (NASDAQ:IBOC)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in International Bancshares Corporation by 3.9%, selling 5,810 shares, leaving it with 144,699 shares valued at approximately $9.1 million.
• Despite a recent sell-off, shares of International Bancshares have shown resilience, currently trading at $68.28 after hitting a one-year low of $54.11 and a high of $76.91.
• The company has increased its semi-annual dividend to $0.70, reflecting a yield of 200% compared to the previous dividend of $0.66, with a low payout ratio of 21.15%.

Brandywine Global Investment Management LLC cut its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,699 shares of the bank's stock after selling 5,810 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.23% of International Bancshares worth $9,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Millennium Management LLC grew its position in shares of International Bancshares by 1,883.6% during the fourth quarter. Millennium Management LLC now owns 346,185 shares of the bank's stock valued at $21,865,000 after purchasing an additional 328,733 shares in the last quarter. Nuveen LLC purchased a new position in International Bancshares in the first quarter worth about $17,195,000. First Trust Advisors LP grew its position in International Bancshares by 21.3% in the fourth quarter. First Trust Advisors LP now owns 1,450,040 shares of the bank's stock worth $91,585,000 after acquiring an additional 255,070 shares in the last quarter. Jacobs Asset Management LLC purchased a new position in shares of International Bancshares during the fourth quarter valued at approximately $7,579,000. Finally, Reinhart Partners LLC. boosted its position in shares of International Bancshares by 13.2% during the first quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock valued at $49,043,000 after buying an additional 90,553 shares during the period. 65.91% of the stock is owned by institutional investors.

International Bancshares Stock Down 2.9%

Shares of NASDAQ:IBOC opened at $68.28 on Friday. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $76.91. The business has a 50 day simple moving average of $67.87 and a two-hundred day simple moving average of $64.62. The firm has a market capitalization of $4.24 billion, a PE ratio of 10.31 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

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 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 firm also recently disclosed a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.70 dividend. This represents a yield of 200.0%. This is a positive change 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 payout ratio is presently 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.

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