Russell Investments Group Ltd. Purchases 3,588 Shares of International Bancshares Corporation $IBOC

Key Points

• Russell Investments Group Ltd. increased its stake in International Bancshares Corporation by 8.7% during the first quarter, now holding $2.8 million worth of shares.
• International Bancshares announced a dividend increase to $0.70 per share, scheduled for distribution on August 29th, 2023, reflecting a significant yield boost.
• The stock has seen a 5.1% increase recently, with a current market cap of $4.5 billion and a one-year high of $76.91.

Russell Investments Group Ltd. boosted its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,957 shares of the bank's stock after buying an additional 3,588 shares during the period. Russell Investments Group Ltd. owned about 0.07% of International Bancshares worth $2,835,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CENTRAL TRUST Co acquired a new stake in International Bancshares in the 1st quarter valued at $63,000. GAMMA Investing LLC boosted its holdings in International Bancshares by 183.1% in the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after acquiring an additional 727 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of International Bancshares in the 4th quarter worth $88,000. Bessemer Group Inc. boosted its stake in International Bancshares by 8.9% during the 1st 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. Finally, Cetera Investment Advisers bought a new position in shares of International Bancshares during the fourth quarter worth $212,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Stock Up 0.3%

Shares of NASDAQ:IBOC traded up $0.25 during trading on Wednesday, hitting $72.68. 207,266 shares of the company's stock traded hands, compared to its average volume of 225,528. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 10.98 and a beta of 0.85. The company has a 50-day moving average price of $68.98 and a 200-day moving average price of $64.84.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.70 dividend. This represents a yield of 200.0%. The ex-dividend date is Friday, August 15th. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio (DPR) is presently 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.