American Century Companies Inc. Buys 665,280 Shares of International Bancshares Corporation $IBOC

Key Points

• American Century Companies Inc. has increased its stake in International Bancshares Corporation by 37.9%, acquiring 665,280 additional shares to own 3.89% of the company, valued at approximately $152.5 million.
• International Bancshares recently reported earnings of $1.61 per share with a net margin of 39.51% and announced an increase in its semi-annual dividend to $0.70 per share.
• The stock price of International Bancshares is currently down 2.9%, with a market cap of $4.24 billion and a PE ratio of 10.31.

American Century Companies Inc. boosted its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 37.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,418,758 shares of the bank's stock after buying an additional 665,280 shares during the quarter. American Century Companies Inc. owned approximately 3.89% of International Bancshares worth $152,527,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CENTRAL TRUST Co acquired a new stake in International Bancshares in the 1st quarter valued at $63,000. GAMMA Investing LLC boosted its stake in International Bancshares by 183.1% in the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after buying an additional 727 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in International Bancshares in the 4th quarter valued at $88,000. Sterling Capital Management LLC boosted its stake in International Bancshares by 836.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank's stock valued at $110,000 after buying an additional 1,555 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in International Bancshares by 8.9% in the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

International Bancshares Price Performance

IBOC traded up $0.2750 during trading on Wednesday, hitting $68.5150. The company's stock had a trading volume of 67,352 shares, compared to its average volume of 261,213. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 10.35 and a beta of 0.85. International Bancshares Corporation has a 12 month low of $54.11 and a 12 month high of $76.91. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average price is $67.99 and its two-hundred day moving average price is $64.65.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its earnings results 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 company also recently disclosed a semi-annual dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.70 per share. 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 of this dividend is Friday, August 15th. International Bancshares's payout ratio is currently 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.