Nuveen LLC Invests $17.20 Million in International Bancshares Corporation $IBOC

Key Points

• Nuveen LLC has acquired a new stake in International Bancshares Corporation, purchasing 272,683 shares valued at approximately $17.2 million.
• International Bancshares reported a quarterly earnings per share of $1.61 with a return on equity of 14.37% and a net margin of 39.51%.
• The company announced an increase in its semi-annual dividend to $0.70 per share, reflecting a notable change from the previous $0.66.

Nuveen LLC purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 272,683 shares of the bank's stock, valued at approximately $17,195,000. Nuveen LLC owned 0.44% of International Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBOC. Citigroup Inc. grew its position in shares of International Bancshares by 47.3% during the 1st quarter. Citigroup Inc. now owns 121,772 shares of the bank's stock valued at $7,679,000 after acquiring an additional 39,101 shares during the period. Cresta Advisors Ltd. grew its position in shares of International Bancshares by 11.3% during the 1st quarter. Cresta Advisors Ltd. now owns 62,762 shares of the bank's stock valued at $3,958,000 after acquiring an additional 6,367 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of International Bancshares by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank's stock valued at $135,072,000 after acquiring an additional 63,791 shares during the period. XTX Topco Ltd acquired a new stake in shares of International Bancshares during the 1st quarter valued at about $386,000. Finally, Cetera Investment Advisers grew its position in shares of International Bancshares by 9.2% during the 1st quarter. Cetera Investment Advisers now owns 3,665 shares of the bank's stock valued at $231,000 after acquiring an additional 308 shares during the period. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Price Performance

Shares of NASDAQ:IBOC traded up $3.50 during trading on Friday, reaching $72.36. 473,086 shares of the company's stock traded hands, compared to its average volume of 213,796. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $76.91. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.50 billion, a PE ratio of 10.93 and a beta of 0.85. The company has a 50-day simple moving average of $68.36 and a 200-day simple moving average of $64.74.

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 (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 firm also recently disclosed a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.70 dividend. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. This represents a yield of 200.0%. The ex-dividend date is Friday, August 15th. International Bancshares's payout ratio is currently 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.