Prudential Financial Inc. raised its stake in International Bancshares Corporation (NASDAQ:IBOC) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 909,644 shares of the bank’s stock after acquiring an additional 96,750 shares during the quarter. Prudential Financial Inc. owned approximately 1.38% of International Bancshares Corporation worth $36,476,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in International Bancshares Corporation by 41.7% in the third quarter. American Century Companies Inc. now owns 169,366 shares of the bank’s stock valued at $6,792,000 after purchasing an additional 49,844 shares during the last quarter. Foundry Partners LLC increased its stake in International Bancshares Corporation by 7.5% during the third quarter. Foundry Partners LLC now owns 373,898 shares of the bank’s stock worth $14,993,000 after acquiring an additional 26,232 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of International Bancshares Corporation in the second quarter worth about $418,000. Polaris Capital Management LLC boosted its position in shares of International Bancshares Corporation by 1.6% in the second quarter. Polaris Capital Management LLC now owns 849,405 shares of the bank’s stock worth $29,772,000 after buying an additional 13,600 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of International Bancshares Corporation by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 126,279 shares of the bank’s stock worth $4,426,000 after buying an additional 1,411 shares during the period. Hedge funds and other institutional investors own 55.47% of the company’s stock.
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In other International Bancshares Corporation news, VP R David Guerra sold 2,500 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $36.26, for a total value of $1,813,000.00. Following the transaction, the director now directly owns 1,672,890 shares of the company’s stock, valued at $60,658,991.40. The disclosure for this sale can be found here. Company insiders own 17.93% of the company’s stock.
International Bancshares Corporation (NASDAQ:IBOC) opened at $38.95 on Tuesday. The company has a market capitalization of $2,537.26, a PE ratio of 17.38 and a beta of 1.52. International Bancshares Corporation has a 1-year low of $32.50 and a 1-year high of $42.35. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.68.
International Bancshares Corporation (NASDAQ:IBOC) last released its earnings results on Wednesday, November 8th. The bank reported $0.59 EPS for the quarter. International Bancshares Corporation had a return on equity of 8.34% and a net margin of 26.36%.
The firm also recently announced a semiannual dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a $0.33 dividend. This represents a yield of 1.74%. The ex-dividend date of this dividend was Thursday, September 28th. International Bancshares Corporation’s dividend payout ratio 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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