Hsbc Holdings PLC Lowers Stock Holdings in International Bancshares Corporation $IBOC

Key Points

• Hsbc Holdings PLC reduced its stake in International Bancshares Corporation by 78.0% during the first quarter, resulting in ownership of only 4,132 shares worth $261,000.
• The company recently increased its semi-annual dividend to $0.70 per share, up from $0.66, representing a dividend yield of 200.0%.
• International Bancshares Corporation reported earnings of $1.61 per share for the last quarter, with a return on equity of 14.37% and a net margin of 39.51%.

Hsbc Holdings PLC lessened its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 78.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,132 shares of the bank's stock after selling 14,638 shares during the quarter. Hsbc Holdings PLC's holdings in International Bancshares were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBOC. American Century Companies Inc. grew its stake in International Bancshares by 37.9% during the 1st quarter. American Century Companies Inc. now owns 2,418,758 shares of the bank's stock worth $152,527,000 after buying an additional 665,280 shares during the last quarter. Millennium Management LLC grew its stake in International Bancshares by 1,883.6% during the 4th quarter. Millennium Management LLC now owns 346,185 shares of the bank's stock worth $21,865,000 after buying an additional 328,733 shares during the last quarter. Nuveen LLC purchased a new position in International Bancshares during the 1st quarter worth approximately $17,195,000. Jacobs Asset Management LLC purchased a new position in International Bancshares during the 4th quarter worth approximately $7,579,000. Finally, Reinhart Partners LLC. grew its stake in International Bancshares by 13.2% during the 1st quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock worth $49,043,000 after buying an additional 90,553 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Stock Performance

NASDAQ:IBOC traded up $0.47 during mid-day trading on Wednesday, reaching $70.85. 159,549 shares of the stock were exchanged, compared to its average volume of 200,843. The company has a 50 day simple moving average of $70.02 and a 200-day simple moving average of $65.25. The stock has a market capitalization of $4.40 billion, a P/E ratio of 10.70 and a beta of 0.87. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced 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 business also recently announced a semi-annual dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.70 dividend. This is an increase from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 200.0%. International Bancshares's dividend payout ratio (DPR) is 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.