Mackenzie Financial Corp Has $213,000 Position in International Bancshares Corporation (NASDAQ:IBOC)

Key Points

• Mackenzie Financial Corp reduced its stake in International Bancshares Corporation by 73.5% in the first quarter, now holding 3,382 shares valued at approximately $213,000.
• International Bancshares recently announced an increase in its semi-annual dividend from $0.66 to $0.70, with a yield of 200.0% and an ex-dividend date set for August 15th.
• The bank reported earnings of $1.61 per share for the last quarter, with a return on equity of 14.64% and a net margin of 39.51%.

Mackenzie Financial Corp lowered its holdings in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 73.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,382 shares of the bank's stock after selling 9,365 shares during the period. Mackenzie Financial Corp's holdings in International Bancshares were worth $213,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in International Bancshares by 1,883.6% in the 4th 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 last quarter. First Trust Advisors LP increased 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 worth $91,585,000 after buying an additional 255,070 shares in the last quarter. Jacobs Asset Management LLC bought a new position in shares of International Bancshares in the 4th quarter valued at $7,579,000. Reinhart Partners LLC. grew its position in International Bancshares by 13.2% during the 1st quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock worth $49,043,000 after acquiring an additional 90,553 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of International Bancshares by 50.8% during the fourth quarter. JPMorgan Chase & Co. now owns 264,430 shares of the bank's stock worth $16,701,000 after purchasing an additional 89,100 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

International Bancshares Trading Down 1.8%

Shares of IBOC stock traded down $1.30 during trading hours on Thursday, hitting $69.57. 76,483 shares of the company's stock traded hands, compared to its average volume of 262,107. The stock has a market cap of $4.32 billion, a PE ratio of 10.49 and a beta of 0.85. The stock's 50 day simple moving average is $67.65 and its 200 day simple moving average is $64.60. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares Corporation has a 12 month low of $54.11 and a 12 month high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 earnings per share 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 company also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is 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 payout ratio is currently 21.15%.

International Bancshares 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.