International Bancshares Co. (NASDAQ:IBOC) was the recipient of a significant decline in short interest during the month of March. As of March 29th, there was short interest totalling 386,773 shares, a decline of 31.2% from the March 15th total of 562,387 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 250,761 shares, the days-to-cover ratio is presently 1.5 days.
In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $40.75, for a total transaction of $1,018,750.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.93% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of IBOC. Legal & General Group Plc grew its position in shares of International Bancshares by 7.1% in the third quarter. Legal & General Group Plc now owns 47,755 shares of the bank’s stock valued at $1,919,000 after purchasing an additional 3,156 shares during the last quarter. Wells Fargo & Company MN grew its position in International Bancshares by 5.6% during the third quarter. Wells Fargo & Company MN now owns 56,457 shares of the bank’s stock worth $2,263,000 after buying an additional 3,017 shares in the last quarter. Jane Street Group LLC acquired a new stake in International Bancshares during the third quarter worth approximately $527,000. California Public Employees Retirement System grew its position in International Bancshares by 5.9% during the third quarter. California Public Employees Retirement System now owns 100,130 shares of the bank’s stock worth $4,015,000 after buying an additional 5,550 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in International Bancshares by 790.8% during the third quarter. Public Employees Retirement System of Ohio now owns 24,623 shares of the bank’s stock worth $987,000 after buying an additional 21,859 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors.
Separately, BidaskClub downgraded International Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, January 5th.
International Bancshares stock opened at $39.60 on Friday. International Bancshares has a 12 month low of $32.50 and a 12 month high of $42.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $2,650.50, a PE ratio of 16.99 and a beta of 1.44.
International Bancshares (NASDAQ:IBOC) last posted its earnings results on Wednesday, February 28th. The bank reported $0.68 EPS for the quarter. International Bancshares had a return on equity of 8.75% and a net margin of 27.84%. The company had revenue of $134.50 million for the quarter.
The company also recently announced a semiannual dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be given a $0.33 dividend. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, March 29th.
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About International Bancshares
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.
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