Voya Investment Management LLC Decreases Position in International Bancshares Corporation $IBOC

Key Points

• Voya Investment Management LLC reduced its holdings in International Bancshares Corporation by 88.9% during the first quarter, ending with 14,547 shares valued at $917,000.
• Several other institutional investors, including American Century Companies Inc. and Charles Schwab Investment Management Inc., increased their stakes in the bank, highlighting a mixed sentiment among institutional shareholders.
• International Bancshares announced a dividend increase to $0.70 per share from $0.66, representing a yield of 200.0% with a payout ratio of 21.15%.

Voya Investment Management LLC decreased its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC - Free Report) by 88.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,547 shares of the bank's stock after selling 116,960 shares during the quarter. Voya Investment Management LLC's holdings in International Bancshares were worth $917,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in International Bancshares by 37.9% during the first quarter. American Century Companies Inc. now owns 2,418,758 shares of the bank's stock worth $152,527,000 after purchasing an additional 665,280 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Bancshares by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,141,959 shares of the bank's stock valued at $135,072,000 after buying an additional 63,791 shares during the last quarter. Azora Capital LP lifted its stake in International Bancshares by 28.4% in the first quarter. Azora Capital LP now owns 947,229 shares of the bank's stock valued at $59,732,000 after buying an additional 209,643 shares during the last quarter. Reinhart Partners LLC. lifted its stake in International Bancshares by 13.2% in the first quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank's stock valued at $49,043,000 after buying an additional 90,553 shares during the last quarter. Finally, Tamar Securities LLC lifted its stake in International Bancshares by 18.0% in the first quarter. Tamar Securities LLC now owns 718,117 shares of the bank's stock valued at $45,284,000 after buying an additional 109,443 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $69.35 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares Corporation has a twelve month low of $54.11 and a twelve month high of $76.91. The stock has a 50 day moving average of $70.02 and a two-hundred day moving average of $65.62. The stock has a market cap of $4.31 billion, a P/E ratio of 10.48 and a beta of 0.87.

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

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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