Wells Fargo & Company MN increased its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,440 shares of the bank’s stock after acquiring an additional 3,141 shares during the period. Wells Fargo & Company MN owned about 0.08% of International Bancshares Corporation worth $1,873,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ING Groep NV acquired a new position in International Bancshares Corporation during the 2nd quarter worth $248,000. Arizona State Retirement System lifted its holdings in International Bancshares Corporation by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 24,500 shares of the bank’s stock worth $859,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in International Bancshares Corporation by 87.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 28,866 shares of the bank’s stock worth $1,012,000 after buying an additional 13,497 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in International Bancshares Corporation by 4.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 35,454 shares of the bank’s stock worth $1,238,000 after buying an additional 1,445 shares in the last quarter. Finally, Texas Permanent School Fund lifted its holdings in International Bancshares Corporation by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 42,439 shares of the bank’s stock worth $1,487,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 55.39% of the company’s stock.
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Separately, BidaskClub downgraded International Bancshares Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th.
In related news, VP R David Guerra sold 2,500 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $36.67, for a total transaction of $91,675.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $36.26, for a total value of $1,813,000.00. Following the sale, the director now directly owns 1,672,890 shares in the company, valued at approximately $60,658,991.40. The disclosure for this sale can be found here. In the last three months, insiders sold 87,500 shares of company stock worth $3,177,275. 17.93% of the stock is currently owned by company insiders.
International Bancshares Corporation (IBOC) traded up $0.25 during mid-day trading on Friday, hitting $38.40. The stock had a trading volume of 159,000 shares, compared to its average volume of 187,550. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $2,520.74, a P/E ratio of 17.26 and a beta of 1.52. International Bancshares Corporation has a one year low of $32.50 and a one year high of $42.35.
International Bancshares Corporation (NASDAQ:IBOC) last posted its quarterly earnings results on Wednesday, November 8th. The bank reported $0.59 earnings per share for the quarter. International Bancshares Corporation had a return on equity of 8.34% and a net margin of 26.36%.
The business also recently declared a semiannual dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.33 dividend. This represents a dividend yield of 1.74%. The ex-dividend date was Thursday, September 28th. International Bancshares Corporation’s dividend payout ratio (DPR) is currently 29.86%.
International Bancshares Corporation Profile
International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
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