Reinhart Partners LLC. Has $52.48 Million 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 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 788,418 shares of the bank's stock after purchasing an additional 10,705 shares during the quarter. Reinhart Partners LLC. owned approximately 1.27% of International Bancshares worth $52,478,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in IBOC. Summit Securities Group LLC purchased a new position in shares of International Bancshares during the 1st quarter valued at $30,000. CENTRAL TRUST Co purchased a new stake in shares of International Bancshares during the first quarter worth $63,000. GAMMA Investing LLC boosted its position in International Bancshares by 183.1% during the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after purchasing an additional 727 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in International Bancshares in the fourth quarter valued at about $88,000. Finally, Bessemer Group Inc. increased its position in International Bancshares by 8.9% in the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock worth $171,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

International Bancshares Stock Up 2.3%

NASDAQ:IBOC traded up $1.61 during mid-day trading on Thursday, reaching $70.95. The stock had a trading volume of 231,139 shares, compared to its average volume of 192,429. The stock has a market cap of $4.41 billion, a P/E ratio of 10.72 and a beta of 0.87. The business's 50 day moving average is $69.98 and its 200 day moving average is $65.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 EPS 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 disclosed a semi-annual dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.70 dividend. The ex-dividend date was 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 dividend payout ratio is 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.