Mirae Asset Global Investments Co. Ltd. Has $3.24 Million Holdings in International Bancshares Corporation $IBOC

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,630 shares of the bank’s stock after purchasing an additional 5,037 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in International Bancshares were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in shares of International Bancshares by 3.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,420 shares of the bank’s stock worth $627,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of International Bancshares by 67.3% during the 2nd 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. Diversified Trust Co grew its holdings in shares of International Bancshares by 1.2% during the 2nd quarter. Diversified Trust Co now owns 20,152 shares of the bank’s stock worth $1,341,000 after purchasing an additional 240 shares in the last quarter. Reinhart Partners LLC. grew its holdings in shares of International Bancshares by 1.4% during the 2nd quarter. Reinhart Partners LLC. now owns 788,418 shares of the bank’s stock worth $52,478,000 after purchasing an additional 10,705 shares in the last quarter. Finally, Strs Ohio acquired a new stake in International Bancshares in the 1st quarter valued at $366,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of IBOC stock opened at $68.19 on Wednesday. The stock’s fifty day simple moving average is $69.88 and its 200 day simple moving average is $66.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 10.30 and a beta of 0.80. International Bancshares Corporation has a one year low of $54.11 and a one year high of $76.91.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings results 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 firm also recently disclosed a semi-annual dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.70 dividend. This represents a yield of 200.0%. The ex-dividend date was Friday, August 15th. This is a positive change from International Bancshares’s previous semi-annual dividend of $0.66. International Bancshares’s dividend payout ratio is presently 21.15%.

Analysts Set New Price Targets

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

International Bancshares Company Profile

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.