International Bancshares Corporation $IBOC Stock Sold by Reinhart Partners LLC.

Reinhart Partners LLC. lessened its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 729,929 shares of the bank’s stock after selling 19,832 shares during the period. Reinhart Partners LLC.’s holdings in International Bancshares were worth $49,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in International Bancshares during the 2nd quarter worth approximately $2,421,000. Azora Capital LP increased its position in International Bancshares by 35.1% during the 4th quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock worth $101,277,000 after buying an additional 395,984 shares during the period. Walleye Capital LLC bought a new position in International Bancshares during the 2nd quarter worth $15,249,000. BlackRock Inc. acquired a new stake in shares of International Bancshares during the second quarter worth $535,310,000. Finally, Lazard Asset Management LLC bought a new stake in shares of International Bancshares in the first quarter valued at about $1,741,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Trading Down 0.7%

Shares of NASDAQ:IBOC opened at $67.92 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 10.24 and a beta of 0.68. International Bancshares Corporation has a 1 year low of $63.19 and a 1 year high of $78.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50 day simple moving average is $71.17 and its 200 day simple moving average is $72.41.

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). The company had revenue of $214.82 million for the quarter, compared to the consensus estimate of $264.13 million. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.

International Bancshares Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.00.

About International Bancshares

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.