Susquehanna Fundamental Investments LLC Invests $2.74 Million in International Bancshares Corporation $IBOC

Key Points

• Susquehanna Fundamental Investments acquired 36,105 shares of International Bancshares in the second quarter, worth approximately $2.74 million and representing 0.06% of the company. Institutional investors collectively own 65.91% of IBOC.
• International Bancshares reported quarterly EPS of $1.54, below the $1.61 consensus estimate, while revenue of $214.82 million also trailed expectations of $264.13 million.
• IBOC shares opened at $70.16, below the analyst target price of $85.00; the stock has a consensus “Buy” rating. The company paid a $0.73 dividend, with a stated payout ratio of 22.02%.

Susquehanna Fundamental Investments LLC bought a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 36,105 shares of the bank's stock, valued at approximately $2,742,000. Susquehanna Fundamental Investments LLC owned 0.06% of International Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in International Bancshares in the 2nd quarter worth $535,310,000. Dimensional Fund Advisors LP raised its stake in shares of International Bancshares by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,186,820 shares of the bank's stock valued at $214,442,000 after acquiring an additional 9,468 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Bancshares by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,879 shares of the bank's stock worth $151,342,000 after purchasing an additional 45,980 shares during the period. Azora Capital LP boosted its holdings in shares of International Bancshares by 35.1% during the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank's stock worth $101,277,000 after purchasing an additional 395,984 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of International Bancshares by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank's stock worth $95,385,000 after purchasing an additional 9,496 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $70.16 on Tuesday. International Bancshares Corporation has a 1 year low of $63.19 and a 1 year high of $78.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The company's 50-day moving average is $74.75 and its 200 day moving average is $72.20. The stock has a market capitalization of $4.36 billion, a P/E ratio of 10.58 and a beta of 0.69.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.61 by ($0.07). International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.The company had revenue of $214.82 million during the quarter, compared to the consensus estimate of $264.13 million.

International Bancshares Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares's dividend payout ratio is currently 22.02%.

Analyst Ratings Changes

Separately, Weiss Ratings cut International Bancshares from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $85.00.

International Bancshares Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company's offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.

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