Susquehanna International Group LLP Sells 31,571 Shares of International Bancshares Corporation $IBOC

Key Points

• Susquehanna International Group cut its International Bancshares stake by 55.5% in the second quarter, selling 31,571 shares and retaining 25,270 shares valued at approximately $1.92 million. Institutional investors collectively own 65.91% of IBOC.
• International Bancshares reported quarterly EPS of $1.54, below the $1.61 analyst consensus, while revenue of $214.82 million also missed expectations of $264.13 million.
• The company paid a $0.73-per-share dividend, and analysts maintain a consensus “Buy” rating with an average price target of $85, compared with a recent share price of $70.93.

Susquehanna International Group LLP reduced its stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 55.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,270 shares of the bank's stock after selling 31,571 shares during the quarter. Susquehanna International Group LLP's holdings in International Bancshares were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IBOC. BlackRock Inc. bought a new position in shares of International Bancshares during the second quarter worth $535,310,000. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Bancshares by 2.1% in the 4th 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 in the last quarter. Azora Capital LP boosted its holdings in shares of International Bancshares by 35.1% during the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank's stock valued at $101,277,000 after purchasing an additional 395,984 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of International Bancshares by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank's stock valued at $95,385,000 after purchasing an additional 9,496 shares during the last quarter. Institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

Shares of IBOC opened at $70.93 on Monday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 10.70 and a beta of 0.69. International Bancshares Corporation has a 1 year low of $63.19 and a 1 year high of $78.46. The business's 50 day simple moving average is $74.84 and its 200-day simple moving average is $72.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

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

International Bancshares Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, August 14th. This represents a yield of 199.0%. International Bancshares's dividend payout ratio (DPR) is 22.02%.

Analyst Upgrades and Downgrades

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