Cresta Advisors Ltd. Boosts Stake in International Bancshares Corporation (NASDAQ:IBOC)

Key Points

• Cresta Advisors Ltd. increased its position in International Bancshares Corporation (NASDAQ:IBOC) by 11.3%, now holding 62,762 shares valued at approximately $3.96 million.
• The company reported $1.56 earnings per share for the recent quarter, with a 39.3% net margin and a return on equity of 14.84%.
• International Bancshares has announced a dividend increase to $0.70, with a yield of 200.0%, to be paid on August 29th.

Cresta Advisors Ltd. boosted its position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,762 shares of the bank's stock after buying an additional 6,367 shares during the period. International Bancshares accounts for approximately 2.1% of Cresta Advisors Ltd.'s portfolio, making the stock its 12th biggest holding. Cresta Advisors Ltd. owned about 0.10% of International Bancshares worth $3,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CENTRAL TRUST Co purchased a new stake in shares of International Bancshares in the first quarter valued at approximately $63,000. GAMMA Investing LLC boosted its stake in shares of 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of International Bancshares in the fourth quarter valued at approximately $88,000. Sterling Capital Management LLC boosted its stake in shares of International Bancshares by 836.0% in the fourth 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. boosted its stake in shares of 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 in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of International Bancshares stock traded down $0.08 during trading on Friday, reaching $68.78. The company's stock had a trading volume of 190,715 shares, compared to its average volume of 204,845. The business has a 50 day moving average price of $67.23 and a 200-day moving average price of $64.50. The company has a market capitalization of $4.27 billion, a P/E ratio of 10.39 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 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.05.

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 (EPS) for the quarter. International Bancshares had a return on equity of 14.64% and a net margin of 39.51%.

International Bancshares Increases Dividend

The business also recently declared 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 represents a dividend yield of 200.0%. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date of this dividend is Friday, August 15th. International Bancshares's payout ratio is presently 21.31%.

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.