UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in International Bancshares Corporation (NASDAQ:IBOC – Free Report) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,945 shares of the bank’s stock after selling 8,734 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of International Bancshares worth $7,515,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of IBOC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of International Bancshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,200 shares of the bank’s stock valued at $2,031,000 after purchasing an additional 1,414 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of International Bancshares by 1.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 547,951 shares of the bank’s stock worth $34,554,000 after purchasing an additional 6,909 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of International Bancshares during the 1st quarter worth about $213,000. Jane Street Group LLC lifted its holdings in International Bancshares by 202.9% during the 1st quarter. Jane Street Group LLC now owns 92,422 shares of the bank’s stock valued at $5,828,000 after purchasing an additional 61,905 shares during the last quarter. Finally, M&T Bank Corp bought a new position in International Bancshares during the 2nd quarter valued at about $200,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $85.00.
International Bancshares Stock Performance
Shares of IBOC opened at $71.91 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 10.85 and a beta of 0.67. The stock has a fifty day moving average price of $74.19 and a two-hundred day moving average price of $72.17. International Bancshares Corporation has a 52-week low of $63.19 and a 52-week high of $78.46.
International Bancshares (NASDAQ:IBOC – Get Free Report) last announced its earnings results on Thursday, August 6th. The bank reported $1.54 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.07). International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.The business had revenue of $214.82 million for the quarter, compared to the consensus estimate of $264.13 million.
International Bancshares Announces Dividend
The business also recently disclosed a dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a yield of 199.0%. International Bancshares’s dividend payout ratio is currently 22.02%.
International Bancshares Profile
International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.
The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.
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