International Bancshares Corporation (NASDAQ:IBOC) Increases Dividend to $0.70 Per Share

Key Points

• International Bancshares Corporation has increased its semi-annual dividend to $0.70 per share, marking a 6.1% increase from the previous dividend of $0.66.
• The company's stock price rose by 2.6%, reaching $69.20, with a market capitalization of $4.30 billion.
• Institutional investors currently own 65.91% of International Bancshares, indicating strong institutional interest in the company.

International Bancshares Corporation (NASDAQ:IBOC - Get Free Report) announced a semi-annual dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.70 per share by the bank on Friday, August 29th. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 15th. This is a 6.1% increase from International Bancshares's previous semi-annual dividend of $0.66.

International Bancshares Trading Up 2.6%

Shares of NASDAQ:IBOC traded up $1.76 during midday trading on Monday, reaching $69.20. The company's stock had a trading volume of 219,909 shares, compared to its average volume of 266,034. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 10.53 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50 day moving average price of $66.62 and a two-hundred day moving average price of $64.38. International Bancshares has a fifty-two week low of $54.11 and a fifty-two week high of $76.91.

International Bancshares (NASDAQ:IBOC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The bank reported $1.56 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 14.84% and a net margin of 39.30%. The company had revenue of $198.22 million for the quarter.

Institutional Trading of International Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of International Bancshares by 37.9% in 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. raised its stake in shares of 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 worth $135,072,000 after purchasing an additional 63,791 shares during the last quarter. First Trust Advisors LP raised its stake in shares of International Bancshares by 21.3% in the fourth quarter. First Trust Advisors LP now owns 1,450,040 shares of the bank's stock worth $91,585,000 after purchasing an additional 255,070 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of International Bancshares by 0.5% in the second quarter. Boston Trust Walden Corp now owns 1,405,068 shares of the bank's stock worth $93,521,000 after purchasing an additional 7,019 shares during the last quarter. Finally, Azora Capital LP raised its stake in shares of International Bancshares by 28.4% in the first quarter. Azora Capital LP now owns 947,229 shares of the bank's stock worth $59,732,000 after purchasing an additional 209,643 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

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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