American Century Companies Inc. Boosts Holdings in 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. increased its holdings in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 37.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,418,758 shares of the bank's stock after purchasing 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 reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position 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 valued at $135,072,000 after acquiring an additional 63,791 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of International Bancshares by 21.3% during the fourth quarter. First Trust Advisors LP now owns 1,450,040 shares of the bank's stock valued at $91,585,000 after purchasing an additional 255,070 shares during the period. Northern Trust Corp raised its holdings in shares of International Bancshares by 10.4% during the fourth quarter. Northern Trust Corp now owns 844,517 shares of the bank's stock valued at $53,340,000 after purchasing an additional 79,814 shares during the period. Reinhart Partners LLC. raised its holdings in shares of International Bancshares by 13.2% during the first quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock valued at $49,043,000 after purchasing an additional 90,553 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of International Bancshares by 1,883.6% during the fourth quarter. Millennium Management LLC now owns 346,185 shares of the bank's stock valued at $21,865,000 after purchasing an additional 328,733 shares during the period. Institutional investors own 65.91% of the company's stock.

International Bancshares Stock Up 0.3%

Shares of NASDAQ IBOC traded up $0.2050 during trading on Thursday, hitting $68.6650. 28,095 shares of the company traded hands, compared to its average volume of 260,369. The business's fifty day moving average is $68.07 and its 200 day moving average is $64.67. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.36 and a beta of 0.85. 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 (NASDAQ:IBOC - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 earnings per share 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 firm also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.70 dividend. The ex-dividend date is 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 currently 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.