ING Groep NV bought a new stake in International Bancshares Corporation (NASDAQ:IBOC) during the second quarter, Holdings Channel reports. The fund bought 7,072 shares of the bank’s stock, valued at approximately $248,000.

Separately, Russell Investments Group Ltd. boosted its stake in International Bancshares Corporation by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 663,439 shares of the bank’s stock valued at $23,241,000 after buying an additional 21,780 shares during the last quarter. 56.11% of the stock is owned by institutional investors.

International Bancshares Corporation (NASDAQ:IBOC) traded down 1.54% during midday trading on Friday, reaching $35.10. The company’s stock had a trading volume of 213,618 shares. International Bancshares Corporation has a 12 month low of $27.92 and a 12 month high of $42.25. The stock has a 50-day moving average price of $35.33 and a 200 day moving average price of $35.98. The company has a market cap of $2.32 billion, a PE ratio of 16.25 and a beta of 1.52.

International Bancshares Corporation (NASDAQ:IBOC) last announced its quarterly earnings results on Monday, August 7th. The bank reported $0.61 EPS for the quarter. International Bancshares Corporation had a net margin of 26.21% and a return on equity of 8.20%. Analysts expect that International Bancshares Corporation will post $1.59 earnings per share for the current fiscal year.

International Bancshares Corporation announced that its board has initiated a share repurchase program on Friday, April 21st that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the bank to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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Separately, BidaskClub upgraded International Bancshares Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th.

In other International Bancshares Corporation news, VP R David Guerra sold 1,875 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $36.04, for a total value of $67,575.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares of the company’s stock, valued at approximately $90,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.93% of the stock is owned by company insiders.

International Bancshares Corporation Company Profile

International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.

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Institutional Ownership by Quarter for International Bancshares Corporation (NASDAQ:IBOC)

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