Vest Financial LLC Boosts Stock Position in International Bancshares Corporation $IBOC

Key Points

• Vest Financial LLC increased its stake in International Bancshares Corporation by 26.6% in Q2, owning 64,305 shares valued at approximately $4.28 million.
• International Bancshares recently announced a semi-annual dividend increase to $0.70 per share, reflecting a change from the previous $0.66 and a dividend yield of 200%.
• The firm's stock is currently trading at $66.82, with a market capitalization of $4.15 billion and an average analyst rating of "Buy."

Vest Financial LLC grew its stake in International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 26.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,305 shares of the bank's stock after purchasing an additional 13,520 shares during the period. Vest Financial LLC owned approximately 0.10% of International Bancshares worth $4,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of International Bancshares in the first quarter valued at approximately $30,000. UMB Bank n.a. grew its position in shares of International Bancshares by 67.3% in the second quarter. UMB Bank n.a. now owns 629 shares of the bank's stock valued at $42,000 after purchasing an additional 253 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in shares of International Bancshares in the first quarter valued at approximately $63,000. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 727 shares in the last quarter. Finally, CWM LLC grew its position in shares of International Bancshares by 46.1% in the second quarter. CWM LLC now owns 1,229 shares of the bank's stock valued at $82,000 after purchasing an additional 388 shares in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Trading Up 1.6%

Shares of International Bancshares stock opened at $66.82 on Tuesday. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.09 and a beta of 0.80. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week 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 stock has a 50 day moving average of $69.77 and a 200 day moving average of $66.15.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 earnings per share for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

International Bancshares Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.70 dividend. The ex-dividend date was Friday, August 15th. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. This represents a yield of 200.0%. International Bancshares's dividend payout ratio (DPR) is currently 21.15%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "buy (b)" rating on shares of International Bancshares in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

International Bancshares 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.

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