International Bancshares Corporation $IBOC Holdings Boosted by Tamar Securities LLC

Key Points

• Tamar Securities LLC has increased its stake in International Bancshares Corporation by 18.0%, now owning 718,117 shares, marking it as their largest investment at 6.1% of their portfolio.
• International Bancshares reported $1.61 earnings per share for the quarter and announced a dividend increase to $0.70 per share, yielding 200.0%.
• Hedge funds and institutional investors collectively own 65.91% of International Bancshares' stock, with notable increases from American Century Companies Inc. and Azora Capital LP during the first quarter.

Tamar Securities LLC grew its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 718,117 shares of the bank's stock after purchasing an additional 109,443 shares during the period. International Bancshares makes up about 6.1% of Tamar Securities LLC's portfolio, making the stock its biggest holding. Tamar Securities LLC owned about 1.16% of International Bancshares worth $45,284,000 at the end of the most recent quarter.

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

International Bancshares Stock Performance

Shares of NASDAQ IBOC traded down $0.45 during trading on Friday, reaching $70.85. 30,172 shares of the company traded hands, compared to its average volume of 255,653. The firm's fifty day simple moving average is $70.03 and its 200 day simple moving average is $65.29. The stock has a market cap of $4.40 billion, a P/E ratio of 10.70 and a beta of 0.87. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released 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 firm also recently declared a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.70 dividend. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio (DPR) is presently 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.