International Bancshares Corporation $IBOC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in International Bancshares Corporation by 3.9%, now owning 811,342 shares valued at approximately $51.2 million.
• International Bancshares recently reported a quarterly earnings per share (EPS) of $1.61, alongside a net margin of 39.51% and a return on equity of 14.37%.
• The company is set to pay a semi-annual dividend of $0.70 on August 29th, marking an increase from the previous dividend of $0.66, representing a yield of 200.0%.

Northern Trust Corp decreased its holdings in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 811,342 shares of the bank's stock after selling 33,175 shares during the quarter. Northern Trust Corp owned 1.31% of International Bancshares worth $51,163,000 as of its most recent SEC filing.

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

International Bancshares Trading Up 0.3%

International Bancshares stock opened at $72.68 on Thursday. 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 $4.52 billion, a price-to-earnings ratio of 10.98 and a beta of 0.85. International Bancshares Corporation has a 1 year low of $54.11 and a 1 year high of $76.91. The firm's 50 day moving average price is $68.98 and its two-hundred day moving average price is $64.84.

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 (EPS) 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 disclosed a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 200.0%. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio (DPR) 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.

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