International Bancshares Corporation $IBOC is Azora Capital LP's 9th Largest Position

Key Points

• Azora Capital LP increased its stake in International Bancshares Corporation by 28.4% in the first quarter, now holding 947,229 shares which make up 4.1% of its portfolio.
• The company declared a semi-annual dividend of $0.70 per share, an increase from the previous $0.66, with a dividend yield of 200.0%.
• International Bancshares reported $1.61 earnings per share for the last quarter, showing a return on equity of 14.37% and a net margin of 39.51%.

Azora Capital LP increased its position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 28.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 947,229 shares of the bank's stock after purchasing an additional 209,643 shares during the quarter. International Bancshares makes up about 4.1% of Azora Capital LP's investment portfolio, making the stock its 9th largest holding. Azora Capital LP owned about 1.52% of International Bancshares worth $59,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Advisory LLC lifted its stake in shares of International Bancshares by 18.9% in the 1st quarter. Vident Advisory LLC now owns 4,624 shares of the bank's stock valued at $292,000 after purchasing an additional 734 shares during the period. Trexquant Investment LP bought a new stake in International Bancshares during the first quarter worth about $468,000. Rafferty Asset Management LLC boosted its stake in International Bancshares by 4.4% during the first quarter. Rafferty Asset Management LLC now owns 39,708 shares of the bank's stock worth $2,504,000 after acquiring an additional 1,658 shares in the last quarter. AlphaQuest LLC grew its holdings in International Bancshares by 41.8% in the first quarter. AlphaQuest LLC now owns 9,080 shares of the bank's stock worth $573,000 after purchasing an additional 2,675 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of International Bancshares during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

IBOC stock opened at $71.73 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day moving average price of $69.17 and a 200-day moving average price of $64.88. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $76.91. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.84 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its quarterly 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 declared 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 is Friday, August 15th. This is a boost 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%.

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.

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