International Bancshares Corporation $IBOC Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has increased its stake in International Bancshares Corporation by 32.3%, now owning approximately $3.02 million worth of stock.
• International Bancshares announced a semi-annual dividend increase, raising it from $0.66 to $0.70 per share, reflecting a dividend payout ratio of 21.15%.
• The bank recently reported earnings per share of $1.61 with a return on equity of 14.37% and a net margin of 39.51%.

Intech Investment Management LLC grew its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,831 shares of the bank's stock after purchasing an additional 11,690 shares during the period. Intech Investment Management LLC owned about 0.08% of International Bancshares worth $3,016,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IBOC. Summit Securities Group LLC purchased a new position in shares of International Bancshares during the 1st quarter valued at approximately $30,000. CENTRAL TRUST Co purchased a new position in shares of International Bancshares during the 1st quarter valued at approximately $63,000. GAMMA Investing LLC lifted its holdings in International Bancshares by 183.1% in the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after purchasing an additional 727 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in International Bancshares in the 4th quarter valued at $88,000. Finally, Bessemer Group Inc. lifted its holdings in International Bancshares by 8.9% in the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after purchasing 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 down $1.18 during midday trading on Friday, reaching $69.77. The stock had a trading volume of 744,402 shares, compared to its average volume of 197,159. The company's fifty day simple moving average is $69.99 and its 200 day simple moving average is $65.47. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 10.54 and a beta of 0.87. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $76.91.

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