Polaris Capital Management LLC Sells 40,200 Shares of International Bancshares Corporation $IBOC

Polaris Capital Management LLC lessened its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 6.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 573,604 shares of the bank’s stock after selling 40,200 shares during the quarter. International Bancshares accounts for about 2.5% of Polaris Capital Management LLC’s holdings, making the stock its 9th biggest position. Polaris Capital Management LLC’s holdings in International Bancshares were worth $38,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of International Bancshares in the first quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of International Bancshares by 67.3% in the second quarter. UMB Bank n.a. now owns 629 shares of the bank’s stock worth $42,000 after purchasing an additional 253 shares in the last quarter. CENTRAL TRUST Co purchased a new stake in shares of International Bancshares in the first quarter worth approximately $63,000. GAMMA Investing LLC lifted its position in shares of International Bancshares by 183.1% in the first quarter. GAMMA Investing LLC now owns 1,124 shares of the bank’s stock worth $71,000 after purchasing an additional 727 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of International Bancshares by 8.9% in the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank’s stock worth $171,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

International Bancshares Trading Up 0.6%

NASDAQ:IBOC opened at $68.67 on Friday. The stock’s 50 day moving average price is $69.94 and its 200 day moving average price is $65.97. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91. The company has a market capitalization of $4.27 billion, a P/E ratio of 10.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, August 7th. The bank reported $1.61 EPS for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

International Bancshares Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.70 dividend. This is an increase from International Bancshares’s previous semi-annual dividend of $0.66. This represents a yield of 200.0%. The ex-dividend date was Friday, August 15th. International Bancshares’s dividend payout ratio is currently 21.15%.

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.