International Bancshares Corporation (NASDAQ:IBOC) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 0.6% in the first quarter, HoldingsChannel.com reports. The firm owned 146,189 shares of the bank’s stock after selling 850 shares during the quarter. International Bancshares makes up 1.0% of Kovack Advisors Inc.’s holdings, making the stock its 19th biggest holding. Kovack Advisors Inc.’s holdings in International Bancshares were worth $9,219,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IBOC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in International Bancshares in the first quarter valued at $1,133,000. Denali Advisors LLC boosted its position in International Bancshares by 0.9% in the 1st quarter. Denali Advisors LLC now owns 101,972 shares of the bank’s stock valued at $6,430,000 after buying an additional 956 shares during the last quarter. Foundry Partners LLC boosted its stake in International Bancshares by 1.4% in the first quarter. Foundry Partners LLC now owns 172,715 shares of the bank’s stock valued at $10,891,000 after acquiring an additional 2,338 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of International Bancshares by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the bank’s stock valued at $946,000 after acquiring an additional 200 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in International Bancshares by 1.1% in the first quarter. Principal Financial Group Inc. now owns 154,667 shares of the bank’s stock worth $9,753,000 after buying an additional 1,741 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Trading Up 0.6%

International Bancshares stock opened at $70.01 on Thursday. The company has a 50 day moving average price of $65.99 and a 200 day moving average price of $64.16. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 10.66 and a beta of 0.82. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.73 and a current ratio of 0.73.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Monday, May 5th. The bank reported $1.56 EPS for the quarter. International Bancshares had a net margin of 39.30% and a return on equity of 14.84%. The firm had revenue of $198.22 million for the quarter.

About International Bancshares

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.