T. Rowe Price Investment Management Inc. Trims Holdings in International Bancshares Corporation $IBOC

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. reduced its position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 (SEC).

Other large investors have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of International Bancshares by 37.9% in the first quarter. American Century Companies Inc. now owns 2,418,758 shares of the bank's stock worth $152,527,000 after acquiring an additional 665,280 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in International Bancshares by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank's stock worth $135,072,000 after purchasing an additional 63,791 shares during the last quarter. Northern Trust Corp lifted its stake in International Bancshares by 10.4% during the fourth quarter. Northern Trust Corp now owns 844,517 shares of the bank's stock worth $53,340,000 after purchasing an additional 79,814 shares during the last quarter. Reinhart Partners LLC. lifted its stake in International Bancshares by 13.2% during the first quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock worth $49,043,000 after purchasing an additional 90,553 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in International Bancshares by 1,883.6% during the fourth quarter. Millennium Management LLC now owns 346,185 shares of the bank's stock worth $21,865,000 after purchasing an additional 328,733 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

IBOC stock traded up $0.01 during mid-day trading on Friday, hitting $71.74. 37,988 shares of the stock were exchanged, compared to its average volume of 259,341. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The business has a fifty day moving average price of $69.17 and a 200 day moving average price of $64.88. International Bancshares Corporation has a 12 month low of $54.11 and a 12 month high of $76.91. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.83 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings data 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 business also recently disclosed 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. This is an increase from International Bancshares's previous semi-annual dividend of $0.66. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 15th. International Bancshares's dividend payout ratio (DPR) 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.