CSM Advisors LLC Trims Position in International Bancshares Corporation $IBOC

Key Points

• CSM Advisors LLC trimmed its stake in International Bancshares by 17.5%, selling 24,124 shares and leaving it with 114,056 shares worth about $7.84 million.
• International Bancshares beat quarterly EPS estimates ($1.71 vs. $1.63) on $217.7M in revenue, reported a 13.41% ROE and 39.04% net margin, and paid a $0.73 per share dividend (payout ratio 22.05%).
• Shares trade near $67.48 (12‑month range $54.11–$75.44) with a market cap of $4.2B, and the Wall Street consensus is a Buy with an average price target of $85.

CSM Advisors LLC decreased its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 17.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,056 shares of the bank's stock after selling 24,124 shares during the quarter. CSM Advisors LLC owned about 0.18% of International Bancshares worth $7,840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBOC. Centiva Capital LP acquired a new position in International Bancshares in the third quarter valued at $234,000. Azora Capital LP lifted its position in International Bancshares by 3.5% during the third quarter. Azora Capital LP now owns 1,128,361 shares of the bank's stock worth $77,575,000 after buying an additional 38,195 shares during the period. Aquatic Capital Management LLC acquired a new stake in International Bancshares in the 3rd quarter worth about $89,000. Alliancebernstein L.P. grew its holdings in International Bancshares by 21.6% in the 3rd quarter. Alliancebernstein L.P. now owns 224,519 shares of the bank's stock valued at $15,436,000 after buying an additional 39,812 shares during the period. Finally, Creative Planning grew its holdings in International Bancshares by 32.1% in the 3rd quarter. Creative Planning now owns 14,454 shares of the bank's stock valued at $994,000 after buying an additional 3,515 shares during the period. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Trading Up 0.2%

Shares of IBOC opened at $67.48 on Friday. International Bancshares Corporation has a twelve month low of $54.11 and a twelve month high of $75.44. The firm has a market capitalization of $4.20 billion, a P/E ratio of 10.19 and a beta of 0.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock's fifty day simple moving average is $69.94 and its 200 day simple moving average is $68.94.

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

International Bancshares Announces Dividend

The company 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. The ex-dividend date was Friday, February 13th. This represents a dividend yield of 203.0%. International Bancshares's payout ratio is presently 22.05%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IBOC. Weiss Ratings reiterated a "buy (b)" rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 target price on shares of International Bancshares in a report on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, International Bancshares currently has a consensus rating of "Buy" and an average price target of $85.00.

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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