43,280 Shares in International Bancshares Corporation $IBOC Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) during the 2nd quarter, HoldingsChannel reports. The firm purchased 43,280 shares of the bank’s stock, valued at approximately $3,287,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IBOC. Versant Capital Management Inc increased its stake in shares of 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 buying an additional 157 shares during the period. Janney Montgomery Scott LLC grew its holdings in International Bancshares by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank’s stock worth $511,000 after acquiring an additional 168 shares in the last quarter. Cetera Investment Advisers grew its holdings in International Bancshares by 5.3% during the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock worth $242,000 after acquiring an additional 184 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of International Bancshares by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock valued at $1,223,000 after purchasing an additional 196 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in shares of International Bancshares by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 13,012 shares of the bank’s stock valued at $876,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Down 1.1%

International Bancshares stock opened at $70.61 on Thursday. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46. 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 capitalization of $4.39 billion, a P/E ratio of 10.65 and a beta of 0.67. The stock has a 50-day simple moving average of $73.97 and a 200-day simple moving average of $72.15.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). The firm had revenue of $214.82 million for the quarter, compared to analysts’ expectations of $264.13 million. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.

International Bancshares Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a yield of 199.0%. 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 research report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, International Bancshares currently has an average rating of “Buy” and a consensus price target of $85.00.

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.