Jacobs Asset Management LLC Sells 50,000 Shares of International Bancshares Corporation $IBOC

Key Points

• Jacobs Asset Management LLC has reduced its stake in International Bancshares Corporation by 41.7%, selling 50,000 shares and now holding 70,000 shares, which accounts for 2.8% of their investment portfolio.
• International Bancshares Corporation announced an increase in its semi-annual dividend to $0.70 per share, up from $0.66, with a dividend yield of 200% and a payout ratio of 21.15%.
• As of the latest filings, institutional investors own 65.91% of International Bancshares, reflecting a significant presence of institutional interest in the stock.

Jacobs Asset Management LLC reduced its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 41.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the bank's stock after selling 50,000 shares during the period. International Bancshares comprises approximately 2.8% of Jacobs Asset Management LLC's investment portfolio, making the stock its 17th largest position. Jacobs Asset Management LLC owned 0.11% of International Bancshares worth $4,414,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IBOC. Envestnet Asset Management Inc. boosted its stake in shares of International Bancshares by 3.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,204 shares of the bank's stock valued at $1,466,000 after purchasing an additional 667 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of International Bancshares by 18.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,431 shares of the bank's stock valued at $533,000 after purchasing an additional 1,312 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of International Bancshares by 367.0% in the 4th quarter. Hsbc Holdings PLC now owns 18,770 shares of the bank's stock valued at $1,189,000 after purchasing an additional 14,751 shares in the last quarter. Susquehanna International Group LLP boosted its stake in shares of International Bancshares by 454.5% in the 4th quarter. Susquehanna International Group LLP now owns 91,423 shares of the bank's stock valued at $5,774,000 after purchasing an additional 74,935 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of International Bancshares by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,557 shares of the bank's stock valued at $2,499,000 after purchasing an additional 3,854 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Price Performance

Shares of IBOC traded down $0.19 during mid-day trading on Friday, reaching $71.54. The company had a trading volume of 261,735 shares, compared to its average volume of 219,430. The company's 50 day simple moving average is $69.34 and its 200 day simple moving average is $64.91. International Bancshares Corporation has a 1-year low of $54.11 and a 1-year high of $76.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 10.81 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its earnings results on Thursday, August 7th. The bank reported $1.61 EPS 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 was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 15th. This represents a 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 is 21.15%.

About International Bancshares

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.