VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.29 Million Position in International Bancshares Corporation $IBOC

Key Points

• Virginia Retirement Systems purchased 43,280 shares of International Bancshares worth approximately $3.29 million, while institutional investors collectively own 65.91% of the company.
• International Bancshares reported quarterly EPS of $1.54, below the $1.61 analyst consensus, and revenue of $214.82 million versus expectations of $264.13 million.
• Shares opened at $70.61, down 1.1%, while the company paid a $0.73-per-share dividend. Analysts maintain an average “Buy” rating with an $85 price target.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in International Bancshares Corporation (NASDAQ:IBOC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 43,280 shares of the bank's stock, valued at approximately $3,287,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of International Bancshares at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IBOC. California State Teachers Retirement System lifted its position in shares of International Bancshares by 7,768.3% during the 2nd quarter. California State Teachers Retirement System now owns 4,690,140 shares of the bank's stock valued at $356,216,000 after buying an additional 4,630,532 shares in the last quarter. AXQ Capital LP purchased a new position in International Bancshares during the second quarter valued at $475,000. iSAM Funds UK Ltd grew its position in shares of International Bancshares by 13.2% in the second quarter. iSAM Funds UK Ltd now owns 10,800 shares of the bank's stock valued at $820,000 after purchasing an additional 1,257 shares during the period. Nykredit A S purchased a new stake in shares of International Bancshares during the second quarter worth about $272,000. Finally, Headlands Technologies LLC acquired a new position in shares of International Bancshares during the 2nd quarter worth about $1,557,000. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Stock Down 1.1%

Shares of NASDAQ IBOC opened at $70.61 on Thursday. The business's 50 day moving average is $73.97 and its two-hundred day moving average is $72.15. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 10.65 and a beta of 0.67.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its earnings results on Thursday, August 6th. The bank reported $1.54 EPS 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 firm had revenue of $214.82 million for the quarter, compared to analysts' expectations of $264.13 million.

International Bancshares Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued 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 is 22.02%.

Analyst Upgrades and Downgrades

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

About International Bancshares

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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