International Bancshares Corporation to Issue Dividend of $0.73 (NASDAQ:IBOC)

Key Points

• International Bancshares declared a $0.73-per-share dividend, payable August 28 to shareholders of record on August 14; the company has raised its dividend annually for 16 consecutive years.
• IBOC shares fell 0.4% to $76.22 in Monday trading, while the stock remains near its 52-week high of $78.46 and has a market capitalization of approximately $4.74 billion.
• The bank’s latest quarterly results fell short of analyst expectations, with earnings per share of $1.64 versus $1.68 expected and revenue of $208.46 million versus $257.28 million forecast; institutional investors own 65.91% of the stock.

International Bancshares Corporation (NASDAQ:IBOC - Get Free Report) announced a dividend on Monday, August 3rd. Stockholders of record on Friday, August 14th will be given a dividend of 0.73 per share by the bank on Friday, August 28th. This represents a dividend yield of 192.0%. The ex-dividend date of this dividend is Friday, August 14th.

International Bancshares has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 16 years.

International Bancshares Trading Down 0.4%

Shares of NASDAQ:IBOC traded down $0.32 during midday trading on Monday, reaching $76.22. The company's stock had a trading volume of 361,177 shares, compared to its average volume of 355,662. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 11.38 and a beta of 0.69. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares has a 1 year low of $63.19 and a 1 year high of $78.46. The business has a 50 day moving average price of $75.10 and a 200 day moving average price of $71.92.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its earnings results on Thursday, May 7th. The bank reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.04). International Bancshares had a return on equity of 13.16% and a net margin of 39.33%.The business had revenue of $208.46 million for the quarter, compared to analysts' expectations of $257.28 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in International Bancshares by 35.8% during the second quarter. Versant Capital Management Inc now owns 596 shares of the bank's stock worth $45,000 after acquiring an additional 157 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of International Bancshares by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank's stock valued at $511,000 after purchasing an additional 168 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of International Bancshares by 5.3% during the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank's stock worth $242,000 after purchasing an additional 184 shares during the period. WINTON GROUP Ltd grew its holdings in shares of International Bancshares by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank's stock worth $1,223,000 after purchasing an additional 196 shares during the period. Finally, State of Michigan Retirement System increased its position in International Bancshares by 1.6% during the 1st quarter. State of Michigan Retirement System now owns 13,012 shares of the bank's stock worth $876,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

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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