Principal Financial Group Inc. Sells 53,510 Shares of International Bancshares Co. (NASDAQ:IBOC)

Principal Financial Group Inc. cut its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 26.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,893 shares of the bank’s stock after selling 53,510 shares during the quarter. Principal Financial Group Inc.’s holdings in International Bancshares were worth $8,962,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IBOC. Blue Trust Inc. grew its stake in International Bancshares by 141.0% in the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in International Bancshares in the second quarter valued at approximately $39,000. LRI Investments LLC bought a new position in International Bancshares in the first quarter valued at approximately $117,000. CWM LLC grew its stake in International Bancshares by 5,673.7% in the third quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in International Bancshares in the first quarter valued at approximately $218,000. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Stock Down 0.1 %

IBOC stock opened at $70.82 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $62.80 and a two-hundred day moving average price of $60.70. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 11.01 and a beta of 0.87. International Bancshares Co. has a twelve month low of $44.24 and a twelve month high of $73.82.

Insider Buying and Selling at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the completion of the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 13.93% of the company’s stock.

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.