Vanguard Group Inc. Sells 67,024 Shares of International Bancshares Corporation $IBOC

Key Points

• Vanguard Group Inc. has reduced its stake in International Bancshares Corporation (IBOC) by 1.0%, selling 67,024 shares and retaining ownership of 6,340,097 shares, valued at approximately $399.8 million.
• International Bancshares announced a **semi-annual dividend increase** to $0.70 per share, up from $0.66, which equates to a yield of 200.0% and will be paid to shareholders of record on August 15th.
• The bank reported an EPS of $1.61 for the quarter, with a return on equity of 14.37% and a net margin of 39.51% in their latest earnings announcement on August 7th.

Vanguard Group Inc. reduced its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,340,097 shares of the bank's stock after selling 67,024 shares during the period. Vanguard Group Inc. owned about 10.19% of International Bancshares worth $399,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IBOC. Wells Fargo & Company MN boosted its stake in shares of International Bancshares by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 31,914 shares of the bank's stock valued at $2,016,000 after purchasing an additional 6,682 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of International Bancshares by 3.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,204 shares of the bank's stock valued at $1,466,000 after purchasing an additional 667 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of International Bancshares by 12.9% in the 4th quarter. Bank of Montreal Can now owns 10,078 shares of the bank's stock valued at $637,000 after purchasing an additional 1,148 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of International Bancshares by 25.2% in the 4th quarter. Renaissance Technologies LLC now owns 52,337 shares of the bank's stock valued at $3,306,000 after purchasing an additional 10,519 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of International Bancshares by 836.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank's stock valued at $110,000 after purchasing an additional 1,555 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Price Performance

Shares of IBOC traded up $0.22 during mid-day trading on Wednesday, reaching $68.46. The company had a trading volume of 159,782 shares, compared to its average volume of 220,740. The company's 50 day simple moving average is $68.07 and its 200 day simple moving average is $64.67. International Bancshares Corporation has a 1-year low of $54.11 and a 1-year high of $76.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 10.34 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted 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 firm also recently announced a semi-annual dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, August 15th. This represents a yield of 200.0%. This is a boost from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's dividend payout ratio is 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.