Legal & General Group Plc Invests $5.31 Million in International Bancshares Corporation $IBOC

Key Points

• Legal & General Group Plc acquired 69,876 shares of International Bancshares worth approximately $5.31 million, representing a 0.11% stake. Institutional investors collectively own 65.91% of the company.
• International Bancshares reported quarterly EPS of $1.54, below the $1.61 consensus estimate, while revenue of $214.82 million also missed expectations of $264.13 million.
• The stock opened at $71.54, versus an analyst average price target of $85.00. The company paid a $0.73 dividend, with a payout ratio of 22.02%.

Legal & General Group Plc bought a new stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,876 shares of the bank's stock, valued at approximately $5,307,000. Legal & General Group Plc owned 0.11% of International Bancshares as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank's stock worth $27,000 after acquiring an additional 402 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank's stock valued at $32,000 after purchasing an additional 221 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of International Bancshares by 82.0% during the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank's stock worth $34,000 after buying an additional 232 shares during the last quarter. Allworth Financial LP bought a new stake in shares of International Bancshares during the 2nd quarter worth about $42,000. Finally, Versant Capital Management Inc grew its stake in International Bancshares by 35.8% in the 2nd quarter. Versant Capital Management Inc now owns 596 shares of the bank's stock valued at $45,000 after buying an additional 157 shares during the last quarter. Institutional investors own 65.91% of the company's stock.

International Bancshares Stock Up 1.3%

NASDAQ IBOC opened at $71.54 on Friday. The business has a fifty day moving average price of $74.39 and a two-hundred day moving average price of $72.17. The stock has a market capitalization of $4.45 billion, a PE ratio of 10.79 and a beta of 0.67. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.07). International Bancshares had a net margin of 38.83% and a return on equity of 12.67%. The company had revenue of $214.82 million for the quarter, compared to the consensus estimate of $264.13 million.

International Bancshares Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.73 dividend. This represents a yield of 199.0%. The ex-dividend date was Friday, August 14th. International Bancshares's dividend payout ratio (DPR) is 22.02%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered International Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $85.00.

International Bancshares Company Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company's offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.

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