Quantbot Technologies LP Raises Stake in International Bancshares Corporation (IBOC)
Quantbot Technologies LP grew its holdings in International Bancshares Corporation (NASDAQ:IBOC) by 387.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,819 shares of the bank’s stock after purchasing an additional 5,419 shares during the period. Quantbot Technologies LP’s holdings in International Bancshares Corporation were worth $239,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of IBOC. Russell Investments Group Ltd. increased its holdings in shares of International Bancshares Corporation by 3.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 663,439 shares of the bank’s stock valued at $23,241,000 after purchasing an additional 21,780 shares during the period. ING Groep NV acquired a new position in shares of International Bancshares Corporation in the 2nd quarter valued at about $248,000. Great West Life Assurance Co. Can increased its holdings in shares of International Bancshares Corporation by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 35,454 shares of the bank’s stock valued at $1,238,000 after purchasing an additional 1,445 shares during the period. Texas Permanent School Fund increased its holdings in shares of International Bancshares Corporation by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 42,439 shares of the bank’s stock valued at $1,487,000 after purchasing an additional 395 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of International Bancshares Corporation by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 563,649 shares of the bank’s stock valued at $19,756,000 after purchasing an additional 3,182 shares during the period. Institutional investors own 55.59% of the company’s stock.
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International Bancshares Corporation (NASDAQ:IBOC) opened at 40.60 on Thursday. International Bancshares Corporation has a 12-month low of $29.31 and a 12-month high of $42.25. The firm has a market cap of $2.68 billion, a P/E ratio of 18.80 and a beta of 1.54. The company has a 50-day moving average price of $37.11 and a 200-day moving average price of $35.77.
International Bancshares Corporation (NASDAQ:IBOC) last released its earnings results on Monday, August 7th. The bank reported $0.61 EPS for the quarter. International Bancshares Corporation had a return on equity of 8.20% and a net margin of 26.21%. On average, analysts predict that International Bancshares Corporation will post $1.59 earnings per share for the current year.
The company also recently announced a semiannual dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.33 dividend. This represents a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 28th. International Bancshares Corporation’s payout ratio is 9.03%.
In other International Bancshares Corporation news, Director Antonio R. Sanchez, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.24, for a total value of $724,800.00. Following the sale, the director now owns 1,672,890 shares in the company, valued at approximately $60,625,533.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP R David Guerra sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $36.67, for a total value of $91,675.00. The disclosure for this sale can be found here. Insiders sold a total of 87,500 shares of company stock worth $3,177,275 in the last 90 days. Company insiders own 17.93% of the company’s stock.
Separately, BidaskClub downgraded International Bancshares Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th.
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.
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