Vanguard Group Inc. Sells 39,181 Shares of International Bancshares Corporation $IBOC

Vanguard Group Inc. cut its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,302,986 shares of the bank’s stock after selling 39,181 shares during the quarter. Vanguard Group Inc. owned 0.10% of International Bancshares worth $433,330,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. CWM LLC raised its position in International Bancshares by 46.1% in the 2nd quarter. CWM LLC now owns 1,229 shares of the bank’s stock worth $82,000 after purchasing an additional 388 shares during the period. Covestor Ltd raised its holdings in International Bancshares by 19.9% during the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock valued at $82,000 after buying an additional 199 shares during the last quarter. Raymond James Financial Inc. bought a new stake in International Bancshares in the 2nd quarter worth $127,000. EverSource Wealth Advisors LLC raised its stake in shares of International Bancshares by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock valued at $156,000 after acquiring an additional 341 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of International Bancshares in the second quarter worth about $200,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Performance

Shares of IBOC stock opened at $69.86 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $70.10 and its 200-day moving average price is $69.14. The stock has a market cap of $4.34 billion, a PE ratio of 10.33 and a beta of 0.73. International Bancshares Corporation has a 12 month low of $54.11 and a 12 month high of $75.44.

International Bancshares Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.73 dividend. The ex-dividend date is Friday, February 13th. This represents a dividend yield of 203.0%. International Bancshares’s dividend payout ratio is presently 21.60%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. Loop Capital set a $85.00 price target on International Bancshares in a research note on Wednesday, December 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, International Bancshares currently has an average rating of “Buy” and an average price target of $85.00.

International Bancshares 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.