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

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in International Bancshares in the 1st quarter valued at $30,000. CENTRAL TRUST Co bought a new position in International Bancshares in the 1st quarter valued at $63,000. GAMMA Investing LLC boosted its position 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 during the last quarter. Point72 Asset Management L.P. bought a new position in International Bancshares in the 4th quarter valued at $88,000. Finally, Bessemer Group Inc. boosted 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 buying an additional 222 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Trading Down 0.3%

IBOC traded down $0.19 during mid-day trading on Friday, reaching $71.54. The stock had a trading volume of 261,735 shares, compared to its average volume of 260,717. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week 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 stock has a market capitalization of $4.45 billion, a P/E ratio of 10.81 and a beta of 0.85. The firm's fifty day simple moving average is $69.34 and its two-hundred day simple moving average is $64.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 14.37% 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 given a $0.70 dividend. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 200.0%. This is an increase from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio is 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.