Strs Ohio Buys Shares of 5,800 International Bancshares Corporation $IBOC

Key Points

• Strs Ohio acquired 5,800 shares of International Bancshares Corporation, worth approximately $366,000, marking a new investment in the first quarter.
• International Bancshares announced a semi-annual dividend increase to $0.70 per share, up from $0.66, resulting in a yield of 200.0%.
• As of the latest earnings report, the bank reported earnings per share of $1.61 with a net margin of 39.51% and a return on equity of 14.37%.

Strs Ohio purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,800 shares of the bank's stock, valued at approximately $366,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in International Bancshares by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the bank's stock worth $946,000 after acquiring an additional 200 shares during the period. Bessemer Group Inc. grew its position in shares of International Bancshares by 8.9% in the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after purchasing an additional 222 shares during the period. Cetera Investment Advisers grew its position in shares of International Bancshares by 9.2% in the first quarter. Cetera Investment Advisers now owns 3,665 shares of the bank's stock valued at $231,000 after purchasing an additional 308 shares during the period. Diversified Trust Co increased its stake in International Bancshares by 2.0% in the first quarter. Diversified Trust Co now owns 19,912 shares of the bank's stock valued at $1,256,000 after purchasing an additional 383 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in International Bancshares during the first quarter worth about $30,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Stock Up 0.8%

Shares of NASDAQ:IBOC opened at $69.42 on Wednesday. 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 firm has a market cap of $4.31 billion, a price-to-earnings ratio of 10.49 and a beta of 0.87. The stock's 50-day moving average price is $70.00 and its two-hundred day moving average price is $65.59. 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 announced its quarterly earnings data 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 declared a semi-annual dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.70 per share. This represents a yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. The ex-dividend date of this dividend was Friday, August 15th. International Bancshares's dividend payout ratio (DPR) is presently 21.15%.

About International Bancshares

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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