Campbell & CO Investment Adviser LLC acquired a new position in shares of International Bancshares Corp (NASDAQ:IBOC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,327 shares of the bank’s stock, valued at approximately $243,000.
Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in International Bancshares by 2,147.9% in the second quarter. Public Employees Retirement System of Ohio now owns 43,699 shares of the bank’s stock valued at $1,399,000 after buying an additional 41,755 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of International Bancshares by 96.6% during the 2nd quarter. Bank of America Corp DE now owns 41,673 shares of the bank’s stock valued at $1,334,000 after acquiring an additional 20,475 shares in the last quarter. APG Asset Management N.V. bought a new stake in International Bancshares during the 1st quarter worth $2,459,000. Diversified Trust Co acquired a new position in International Bancshares in the 2nd quarter worth about $374,000. Finally, The Manufacturers Life Insurance Company raised its position in International Bancshares by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 115,681 shares of the bank’s stock valued at $3,110,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.
In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 140,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $31.14, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director now owns 1,936,554 shares in the company, valued at approximately $60,304,291.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.46% of the company’s stock.
NASDAQ IBOC opened at $28.10 on Friday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.26 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.27. International Bancshares Corp has a twelve month low of $15.60 and a twelve month high of $44.00. The stock has a fifty day simple moving average of $28.78 and a 200 day simple moving average of $29.46.
International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, August 6th. The bank reported $0.65 earnings per share for the quarter. International Bancshares had a return on equity of 8.47% and a net margin of 28.72%.
The company also recently announced a semi-annual dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 21st were given a dividend of $0.55 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend was Friday, September 18th.
Several analysts have recently weighed in on IBOC shares. BidaskClub upgraded International Bancshares from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 7th. ValuEngine lowered shares of International Bancshares from a “hold” rating to a “sell” rating in a report on Monday, August 3rd.
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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