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

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,680 shares of the bank's stock, valued at approximately $2,641,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of International Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IBOC. GAMMA Investing LLC increased its position in shares of International Bancshares by 183.1% during the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank's stock valued at $71,000 after purchasing an additional 727 shares during the period. Janney Montgomery Scott LLC increased its position in shares of International Bancshares by 14.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,091 shares of the bank's stock valued at $573,000 after purchasing an additional 1,166 shares during the period. Bessemer Group Inc. increased its position in shares of International Bancshares by 8.9% during the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank's stock valued at $171,000 after purchasing an additional 222 shares during the period. Diversified Trust Co increased its position in shares of International Bancshares by 2.0% during the 1st quarter. Diversified Trust Co now owns 19,912 shares of the bank's stock valued at $1,256,000 after purchasing an additional 383 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of International Bancshares by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,593 shares of the bank's stock valued at $2,734,000 after purchasing an additional 4,881 shares during the period. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

International Bancshares Stock Performance

Shares of NASDAQ IBOC opened at $66.38 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 10.03 and a beta of 0.80. The stock's fifty day simple moving average is $69.44 and its 200 day simple moving average is $66.36. International Bancshares Corporation has a 52-week low of $54.11 and a 52-week high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share (EPS) 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 business also recently announced a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.70 dividend. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 15th. This is a positive change from International Bancshares's previous semi-annual dividend of $0.66. International Bancshares's payout ratio is presently 21.15%.

About International Bancshares

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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