Bailard Inc. purchased a new stake in International Bancshares Co. (NASDAQ:IBOC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,200 shares of the bank's stock, valued at approximately $826,000.
Other hedge funds also recently modified their holdings of the company. Boston Trust Walden Corp grew its stake in International Bancshares by 77.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank's stock valued at $55,434,000 after buying an additional 444,674 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in 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 buying an additional 51,627 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in 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 buying an additional 92,722 shares in the last quarter. American Century Companies Inc. grew its stake in 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 buying an additional 62,148 shares in the last quarter. Finally, North Reef Capital Management LP grew its stake in International Bancshares by 2.5% in the 3rd quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank's stock valued at $71,511,000 after buying an additional 39,938 shares in the last quarter. Institutional investors own 65.91% of the company's stock.
International Bancshares Price Performance
Shares of IBOC traded up $0.18 during mid-day trading on Friday, reaching $56.15. 158,049 shares of the stock traded hands, compared to its average volume of 209,322. The firm has a fifty day moving average price of $53.81 and a 200 day moving average price of $50.79. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 8.48 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 1 year low of $39.10 and a 1 year high of $56.80.
International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The bank reported $1.71 EPS for the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%. The firm had revenue of $211.03 million during the quarter.
International Bancshares Increases Dividend
The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.66 per share. This is an increase from International Bancshares's previous semi-annual dividend of $0.63. This represents a dividend yield of 2.5%. The ex-dividend date was Wednesday, February 14th. International Bancshares's payout ratio is currently 19.94%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of International Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, January 4th.
Get Our Latest Stock Analysis on IBOC
Insider Transactions at International Bancshares
In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction on Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares of the company's stock, valued at approximately $71,149,923.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.45% of the stock is currently owned by insiders.
About International Bancshares
(
Free Report)
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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