International Bancshares Co. (NASDAQ:IBOC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in shares of International Bancshares Co. (NASDAQ:IBOC) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,002 shares of the bank’s stock after selling 2,500 shares during the period. Handelsbanken Fonder AB’s holdings in International Bancshares were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of International Bancshares by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,373,927 shares of the bank’s stock valued at $276,246,000 after acquiring an additional 32,145 shares in the last quarter. North Reef Capital Management LP raised its holdings in shares of International Bancshares by 2.5% in the third quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock worth $71,511,000 after buying an additional 39,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of International Bancshares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,859 shares of the bank’s stock worth $65,437,000 after buying an additional 42,156 shares during the period. Boston Trust Walden Corp lifted its stake in shares of International Bancshares by 77.2% during the fourth quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock worth $55,434,000 after buying an additional 444,674 shares during the period. Finally, Reinhart Partners LLC. grew its holdings in shares of International Bancshares by 10.3% during the fourth quarter. Reinhart Partners LLC. now owns 621,602 shares of the bank’s stock valued at $33,765,000 after buying an additional 57,944 shares during the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $56.46 on Tuesday. International Bancshares Co. has a 52 week low of $39.10 and a 52 week high of $56.81. The business’s 50 day moving average price is $53.90 and its 200 day moving average price is $50.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.51 billion, a P/E ratio of 8.53 and a beta of 0.94.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Monday, February 26th. The bank reported $1.71 EPS for the quarter. The business had revenue of $211.03 million during the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%.

International Bancshares Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were issued a $0.66 dividend. This represents a yield of 2.5%. This is a positive change from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date of this dividend was Wednesday, February 14th. International Bancshares’s dividend payout ratio is presently 19.94%.

Insiders Place Their Bets

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $54.22, for a total value of $2,168,800.00. Following the sale, the director now owns 1,312,245 shares in the company, valued at $71,149,923.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.45% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th.

International Bancshares 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.