International Bancshares Corporation $IBOC Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in International Bancshares Corporation by 4.9%, selling 19,512 shares, while still holding approximately 381,628 shares valued at $24 million.
• International Bancshares has increased its semi-annual dividend payout from $0.66 to $0.70, which will be distributed to shareholders on August 29th.
• The company recently reported a $1.61 EPS for the quarter, with a net margin of 39.51% and a return on equity of 14.37%.

T. Rowe Price Investment Management Inc. lowered its position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,628 shares of the bank's stock after selling 19,512 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.61% of International Bancshares worth $24,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in International Bancshares by 1.1% in the first quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank's stock valued at $9,753,000 after buying an additional 1,741 shares during the last quarter. GAMMA Investing LLC lifted its stake in International Bancshares by 183.1% in the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after buying an additional 727 shares during the last quarter. Bessemer Group Inc. lifted its stake in International Bancshares by 8.9% in the first 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. SG Americas Securities LLC purchased a new stake in International Bancshares in the first quarter valued at approximately $1,255,000. Finally, Janney Montgomery Scott LLC lifted its stake in International Bancshares by 14.7% in the first quarter. Janney Montgomery Scott LLC now owns 9,091 shares of the bank's stock valued at $573,000 after buying an additional 1,166 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Stock Performance

NASDAQ IBOC traded up $0.25 on Wednesday, reaching $72.68. The stock had a trading volume of 207,266 shares, compared to its average volume of 261,358. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The business's 50-day moving average price is $68.78 and its 200 day moving average price is $64.79. The stock has a market cap of $4.52 billion, a P/E ratio of 10.98 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued 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 business also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase 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 presently 21.15%.

International Bancshares Company 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.