International Bancshares Corporation $IBOC Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in International Bancshares Corporation by 47.3%, acquiring an additional 39,101 shares, bringing its total holdings to 121,772 shares valued at approximately $7.68 million.
• International Bancshares announced a semi-annual dividend increase to $0.70 from the previous $0.66, with the payout scheduled for August 29th for investors of record as of August 15th.
• The company reported $1.61 earnings per share for the last quarter, with a net margin of 39.51% and a return on equity of 14.37%.

Citigroup Inc. lifted its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,772 shares of the bank's stock after acquiring an additional 39,101 shares during the quarter. Citigroup Inc. owned 0.20% of International Bancshares worth $7,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CENTRAL TRUST Co acquired a new position in International Bancshares during the first quarter worth about $63,000. GAMMA Investing LLC grew its position in International Bancshares by 183.1% during the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock worth $71,000 after buying an additional 727 shares during the period. Point72 Asset Management L.P. acquired a new position in International Bancshares during the fourth quarter worth about $88,000. Sterling Capital Management LLC grew its position in International Bancshares by 836.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank's stock worth $110,000 after buying an additional 1,555 shares during the period. Finally, Bessemer Group Inc. grew its position in International Bancshares by 8.9% during the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock worth $171,000 after buying an additional 222 shares during the period. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Price Performance

IBOC traded up $0.40 on Thursday, hitting $68.86. 136,552 shares of the company were exchanged, compared to its average volume of 219,491. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The business's fifty day moving average is $68.16 and its 200 day moving average is $64.70. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91. The firm has a market capitalization of $4.28 billion, a P/E ratio of 10.40 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its 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 declared a semi-annual dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.70 dividend. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 15th. International Bancshares's dividend payout ratio (DPR) is currently 21.15%.

International Bancshares Company 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.