Prime Capital Investment Advisors LLC Sells 82,293 Shares of International Bancshares Corporation $IBOC

Key Points

• Prime Capital Investment Advisors LLC has significantly reduced its stake in International Bancshares Corporation by 95.6%, selling 82,293 shares during the second quarter.
• International Bancshares recently announced an increase in its semi-annual dividend to $0.70 per share, up from the previous $0.66, reflecting a healthy dividend payout ratio of 21.15%.
• Despite a drop in share ownership by some investors, analysts maintain a positive outlook, with Weiss Ratings reaffirming a "buy" rating for the stock.

Prime Capital Investment Advisors LLC decreased its stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 95.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,786 shares of the bank's stock after selling 82,293 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in International Bancshares were worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of International Bancshares during the first quarter worth $30,000. UMB Bank n.a. boosted its position in shares of International Bancshares by 67.3% during the second quarter. UMB Bank n.a. now owns 629 shares of the bank's stock worth $42,000 after acquiring an additional 253 shares during the last quarter. CENTRAL TRUST Co bought a new position in shares of International Bancshares during the first quarter worth $63,000. GAMMA Investing LLC boosted its position in shares of International Bancshares by 183.1% during the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock worth $71,000 after acquiring an additional 727 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of International Bancshares by 8.9% during the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock worth $171,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 65.91% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "buy (b)" rating on shares of International Bancshares in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

International Bancshares Price Performance

International Bancshares stock opened at $65.75 on Monday. The firm has a 50-day moving average price of $69.82 and a 200-day moving average price of $66.12. The firm has a market capitalization of $4.09 billion, a PE ratio of 9.93 and a beta of 0.80. The company has a current ratio of 0.75, a quick 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 released its earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share (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 company also recently announced a semi-annual dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.70 dividend. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date was Friday, August 15th. This represents a dividend yield of 200.0%. International Bancshares's dividend payout ratio (DPR) is 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.

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