International Bancshares Corporation $IBOC Shares Sold by Cresta Advisors Ltd.

Cresta Advisors Ltd. reduced its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 26.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,039 shares of the bank’s stock after selling 14,847 shares during the period. International Bancshares comprises 1.4% of Cresta Advisors Ltd.’s investment portfolio, making the stock its 22nd largest holding. Cresta Advisors Ltd.’s holdings in International Bancshares were worth $2,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IBOC. Rockefeller Capital Management L.P. raised its holdings in International Bancshares by 4,020.0% in the 4th 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 last quarter. Allworth Financial LP acquired a new stake in International Bancshares during the 2nd quarter worth approximately $42,000. Versant Capital Management Inc grew its holdings in International Bancshares by 35.8% during the 2nd quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock worth $45,000 after acquiring an additional 157 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in International Bancshares during the 2nd quarter worth approximately $49,000. Finally, Farther Finance Advisors LLC grew its holdings in International Bancshares by 117.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 680 shares of the bank’s stock worth $47,000 after acquiring an additional 368 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Stock Down 0.6%

Shares of NASDAQ IBOC opened at $67.36 on Wednesday. The company has a market capitalization of $4.19 billion, a P/E ratio of 10.22 and a beta of 0.68. International Bancshares Corporation has a 52-week low of $63.19 and a 52-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’s 50 day moving average price is $70.82 and its 200-day moving average price is $72.44.

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

International Bancshares Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a yield of 199.0%. International Bancshares’s payout ratio is presently 22.02%.

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 report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $85.00.

International Bancshares Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Its principal subsidiary, IBC Bank, provides banking services to individuals, businesses, and public-sector customers through operations in South Texas and Oklahoma.

IBC Bank offers a broad range of products, including checking and savings accounts, certificates of deposit, consumer and commercial loans, mortgage lending, treasury management, online and mobile banking, and credit and debit card services.