Victory Capital Management Inc. cut its stake in International Bancshares Corporation (NASDAQ:IBOC) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 962,341 shares of the bank’s stock after selling 22,777 shares during the period. Victory Capital Management Inc. owned about 1.46% of International Bancshares Corporation worth $33,730,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ING Groep NV acquired a new position in shares of International Bancshares Corporation during the second quarter valued at approximately $248,000. Arizona State Retirement System increased its position in shares of International Bancshares Corporation by 1.2% in the second quarter. Arizona State Retirement System now owns 24,500 shares of the bank’s stock valued at $859,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of International Bancshares Corporation by 87.8% in the second quarter. BNP Paribas Arbitrage SA now owns 28,866 shares of the bank’s stock valued at $1,012,000 after buying an additional 13,497 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of International Bancshares Corporation by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 35,454 shares of the bank’s stock valued at $1,238,000 after buying an additional 1,445 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of International Bancshares Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 42,439 shares of the bank’s stock valued at $1,487,000 after buying an additional 395 shares in the last quarter. 55.60% of the stock is currently owned by institutional investors.

International Bancshares Corporation (IBOC) opened at 35.95 on Friday. International Bancshares Corporation has a 12 month low of $27.92 and a 12 month high of $42.25. The firm has a 50-day moving average price of $35.59 and a 200 day moving average price of $35.81. The company has a market capitalization of $2.37 billion, a P/E ratio of 16.64 and a beta of 1.52.

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

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

In other news, Director Antonio R. Sanchez, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $36.26, for a total value of $1,813,000.00. Following the completion of the sale, the director now directly owns 1,672,890 shares of the company’s stock, valued at $60,658,991.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP R David Guerra sold 1,875 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 2,500 shares of the company’s stock, valued at $90,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,875 shares of company stock valued at $3,153,175. Insiders own 17.93% of the company’s stock.

About International Bancshares Corporation

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.

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

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