Reinhart Partners LLC. Boosts Position in International Bancshares Corporation $IBOC

Key Points

• Reinhart Partners LLC increased its stake in International Bancshares Corporation by 1.4%, owning 788,418 shares worth approximately $52.5 million at the end of the second quarter.
• The bank reported earnings of $1.61 per share for its latest quarter, with a return on equity of 14.37% and a net margin of 39.51%.
• International Bancshares recently raised its semi-annual dividend to $0.70 per share, up from $0.66, resulting in a yield of 200.0%.

Reinhart Partners LLC. increased its stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 788,418 shares of the bank's stock after acquiring an additional 10,705 shares during the quarter. Reinhart Partners LLC. owned about 1.27% of International Bancshares worth $52,478,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in International Bancshares during the first quarter valued at $30,000. CENTRAL TRUST Co purchased a new stake in shares of International Bancshares in the first quarter valued at $63,000. GAMMA Investing LLC raised its stake in shares of International Bancshares by 183.1% in the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after acquiring an additional 727 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of International Bancshares in the fourth quarter valued at $88,000. Finally, Bessemer Group Inc. raised its stake in shares of International Bancshares by 8.9% in the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after acquiring an additional 222 shares during the period. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Trading Down 1.7%

Shares of IBOC traded down $1.18 during midday trading on Friday, hitting $69.77. The stock had a trading volume of 744,402 shares, compared to its average volume of 197,159. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $76.91. The firm has a market cap of $4.34 billion, a PE ratio of 10.54 and a beta of 0.87. 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 stock's 50 day moving average is $69.99 and its 200 day moving average is $65.49.

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 net margin of 39.51% and a return on equity of 14.37%.

International Bancshares Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, August 29th. Stockholders 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. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 15th. International Bancshares's payout ratio is currently 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.