International Bancshares Corporation $IBOC Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 7.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,480 shares of the bank’s stock after selling 8,737 shares during the quarter. International Bancshares accounts for 0.8% of Denali Advisors LLC’s investment portfolio, making the stock its 29th largest position. Denali Advisors LLC’s holdings in International Bancshares were worth $8,239,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IBOC. Rockefeller Capital Management L.P. lifted its position in shares of International Bancshares by 4,020.0% during 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 in the last quarter. Hantz Financial Services Inc. grew its stake in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after acquiring an additional 221 shares during the period. Quadrant Capital Group LLC increased its holdings in International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after acquiring an additional 232 shares in the last quarter. Versant Capital Management Inc increased its holdings in International Bancshares by 35.8% in 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 in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in International Bancshares during the fourth quarter worth $47,000. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Price Performance

NASDAQ:IBOC opened at $71.53 on Thursday. The stock has a 50 day moving average of $75.36 and a two-hundred day moving average of $72.31. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The firm has a market cap of $4.45 billion, a P/E ratio of 10.79 and a beta of 0.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

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

International Bancshares Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.73 dividend. This represents a yield of 199.0%. The ex-dividend date of this dividend is Friday, August 14th. International Bancshares’s dividend payout ratio is currently 22.02%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $85.00.

International Bancshares Company 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.