Headlands Technologies LLC purchased a new stake in shares of International Bancshares Corporation (NASDAQ:IBOC – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 20,501 shares of the bank’s stock, valued at approximately $1,557,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IBOC. Rockefeller Capital Management L.P. lifted its position in International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after buying an additional 402 shares during the period. Hantz Financial Services Inc. increased its stake in shares of International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock worth $32,000 after acquiring an additional 221 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after acquiring an additional 232 shares in the last quarter. Allworth Financial LP purchased a new position in International Bancshares during the 2nd quarter valued at about $42,000. Finally, Versant Capital Management Inc boosted its stake in International Bancshares by 35.8% during the second quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock worth $45,000 after acquiring an additional 157 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.
International Bancshares Trading Down 1.1%
International Bancshares stock opened at $70.16 on Tuesday. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 10.58 and a beta of 0.69. The business’s fifty day simple moving average is $74.75 and its two-hundred day simple moving average is $72.20. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.
International Bancshares Announces Dividend
The company also recently disclosed a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.73 per share. This represents a yield of 199.0%. The ex-dividend date of this dividend was Friday, August 14th. International Bancshares’s dividend payout ratio is 22.02%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $85.00.
View Our Latest Stock Analysis on International Bancshares
About International Bancshares
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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