Citigroup Inc. Has $7.68 Million Stock Position in International Bancshares Corporation $IBOC

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. boosted its stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 47.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,772 shares of the bank's stock after purchasing an additional 39,101 shares during the period. Citigroup Inc. owned about 0.20% of International Bancshares worth $7,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cresta Advisors Ltd. grew its position in International Bancshares by 11.3% during the first quarter. Cresta Advisors Ltd. now owns 62,762 shares of the bank's stock valued at $3,958,000 after purchasing an additional 6,367 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in International Bancshares by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank's stock valued at $135,072,000 after purchasing an additional 63,791 shares in the last quarter. XTX Topco Ltd purchased a new position in International Bancshares during the first quarter valued at approximately $386,000. Cetera Investment Advisers grew its position in International Bancshares by 9.2% during the first quarter. Cetera Investment Advisers now owns 3,665 shares of the bank's stock valued at $231,000 after purchasing an additional 308 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in International Bancshares during the first quarter valued at approximately $1,133,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Stock Down 0.1%

IBOC traded down $0.0450 on Thursday, reaching $68.4150. 9,125 shares of the company traded hands, compared to its average volume of 260,222. The stock's 50 day moving average price is $68.07 and its 200-day moving average price is $64.67. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $76.91. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 10.33 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 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 firm also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.70 dividend. This represents a yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date is Friday, August 15th. International Bancshares's dividend 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.