International Bancshares (NASDAQ:IBOC) Reaches New 12-Month High at $56.30

Shares of International Bancshares Co. (NASDAQ:IBOC - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.30 and last traded at $55.91, with a volume of 6042 shares traded. The stock had previously closed at $55.84.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded International Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, January 4th.

International Bancshares Price Performance

The stock has a 50 day simple moving average of $53.21 and a two-hundred day simple moving average of $49.04. The firm has a market cap of $3.49 billion, a PE ratio of 8.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.70 and a current ratio of 0.70.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%.

International Bancshares Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a dividend yield of 2.5%. This is a positive change from International Bancshares's previous semi-annual dividend of $0.63. International Bancshares's dividend payout ratio (DPR) is presently 19.94%.

Insider Buying and Selling at International Bancshares

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the transaction, the director now owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.45% of the company's stock.

Hedge Funds Weigh In On International Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its stake in shares of International Bancshares by 114.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 56,091 shares of the bank's stock valued at $2,479,000 after purchasing an additional 29,918 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of International Bancshares by 777.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 58,266 shares of the bank's stock valued at $2,525,000 after purchasing an additional 51,627 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of International Bancshares by 1,035.5% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank's stock valued at $4,407,000 after purchasing an additional 92,722 shares in the last quarter. American Century Companies Inc. increased its stake in shares of International Bancshares by 12.2% in the 3rd quarter. American Century Companies Inc. now owns 570,126 shares of the bank's stock valued at $24,709,000 after purchasing an additional 62,148 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of International Bancshares by 17.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,394 shares of the bank's stock valued at $1,211,000 after purchasing an additional 4,057 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company's stock.

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.