Wells Fargo & Company MN Purchases 6,682 Shares of International Bancshares Co. (NASDAQ:IBOC)

Wells Fargo & Company MN increased its stake in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,914 shares of the bank's stock after buying an additional 6,682 shares during the quarter. Wells Fargo & Company MN owned approximately 0.05% of International Bancshares worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in International Bancshares by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank's stock valued at $10,483,000 after acquiring an additional 24,902 shares during the period. Stifel Financial Corp bought a new position in International Bancshares in the 3rd quarter valued at about $508,000. Barclays PLC grew its position in shares of International Bancshares by 86.6% in the third quarter. Barclays PLC now owns 111,823 shares of the bank's stock valued at $6,686,000 after purchasing an additional 51,887 shares during the last quarter. Cibc World Markets Corp acquired a new stake in International Bancshares during the 4th quarter worth approximately $320,000. Finally, Vanguard Group Inc. boosted its stake in International Bancshares by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,407,121 shares of the bank's stock valued at $404,674,000 after purchasing an additional 18,408 shares during the period. 65.91% of the stock is owned by institutional investors.

International Bancshares Stock Performance

Shares of IBOC traded up $0.44 during midday trading on Thursday, reaching $61.48. 25,483 shares of the stock were exchanged, compared to its average volume of 256,735. The stock's 50 day simple moving average is $61.47 and its 200 day simple moving average is $64.91. The company has a market cap of $3.83 billion, a P/E ratio of 9.56 and a beta of 0.80. International Bancshares Co. has a twelve month low of $53.33 and a twelve month high of $76.91. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, February 14th. This is a boost from International Bancshares's previous quarterly dividend of $0.27. This represents a $2.80 annualized dividend and a yield of 4.55%. International Bancshares's dividend payout ratio is presently 21.31%.

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.