Dimensional Fund Advisors LP Cuts Stock Holdings in International Bancshares Corporation $IBOC

Key Points

• Dimensional Fund Advisors LP reduced its stake in International Bancshares Corporation by 4.5%, selling 161,903 shares, which left them with approximately 3.46 million shares valued at $218.4 million.
• The company announced an increase in its semi-annual dividend from $0.66 to $0.70, with a 200% dividend yield, set to be paid on August 29th.
• International Bancshares recently reported earnings of $1.61 per share, achieving a net margin of 39.51% and a return on equity of 14.37% for the quarter.

Dimensional Fund Advisors LP lessened its stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,463,628 shares of the bank's stock after selling 161,903 shares during the quarter. Dimensional Fund Advisors LP owned about 5.57% of International Bancshares worth $218,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBOC. CENTRAL TRUST Co purchased a new position in International Bancshares during the 1st quarter valued at about $63,000. GAMMA Investing LLC grew its holdings in International Bancshares by 183.1% during the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after buying an additional 727 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in International Bancshares during the 4th quarter valued at about $88,000. Sterling Capital Management LLC grew its holdings in International Bancshares by 836.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank's stock valued at $110,000 after buying an additional 1,555 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in International Bancshares by 8.9% during the 1st 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. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

IBOC stock traded up $3.50 during mid-day trading on Friday, reaching $72.36. 473,086 shares of the company traded hands, compared to its average volume of 228,942. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $4.50 billion, a P/E ratio of 10.93 and a beta of 0.85. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $76.91. The company has a fifty day moving average price of $68.36 and a 200-day moving average price of $64.70.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

International Bancshares Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. This represents a dividend yield of 200.0%. International Bancshares's payout ratio is presently 21.15%.

About International Bancshares

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.