Azora Capital LP Has $59.73 Million Stock Position in International Bancshares Corporation $IBOC

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 grew its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 28.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 947,229 shares of the bank's stock after acquiring an additional 209,643 shares during the period. International Bancshares accounts for approximately 4.1% of Azora Capital LP's holdings, making the stock its 9th largest position. Azora Capital LP owned approximately 1.52% of International Bancshares worth $59,732,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of International Bancshares by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank's stock valued at $9,753,000 after acquiring an additional 1,741 shares in the last quarter. GAMMA Investing LLC grew its holdings in International Bancshares by 183.1% during the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock worth $71,000 after purchasing an additional 727 shares during the period. Bessemer Group Inc. grew its holdings in International Bancshares by 8.9% during the first 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 period. SG Americas Securities LLC bought a new position in International Bancshares during the first quarter worth about $1,255,000. Finally, Janney Montgomery Scott LLC grew its holdings in International Bancshares by 14.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,091 shares of the bank's stock worth $573,000 after purchasing an additional 1,166 shares during the period. Institutional investors own 65.91% of the company's stock.

International Bancshares Stock Performance

International Bancshares stock traded down $0.01 during midday trading on Wednesday, reaching $70.83. 40,285 shares of the company's stock were exchanged, compared to its average volume of 258,730. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91. 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 market cap of $4.40 billion, a price-to-earnings ratio of 10.70 and a beta of 0.87. The stock's 50-day simple moving average is $69.56 and its 200 day simple moving average is $65.00.

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