Cibc World Markets Corp Takes Position in International Bancshares Co. (NASDAQ:IBOC)

Cibc World Markets Corp acquired a new stake in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,059 shares of the bank's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBOC. Thrivent Financial for Lutherans lifted its holdings in shares of International Bancshares by 4.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,595 shares of the bank's stock valued at $813,000 after buying an additional 575 shares during the period. Intech Investment Management LLC boosted its position in International Bancshares by 7.7% in the third quarter. Intech Investment Management LLC now owns 14,238 shares of the bank's stock worth $851,000 after purchasing an additional 1,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of International Bancshares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank's stock valued at $119,388,000 after purchasing an additional 55,406 shares during the period. Citigroup Inc. lifted its stake in shares of International Bancshares by 18.1% in the 3rd quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock worth $4,620,000 after purchasing an additional 11,834 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of International Bancshares by 1.7% in the third quarter. Hancock Whitney Corp now owns 19,012 shares of the bank's stock worth $1,137,000 after buying an additional 314 shares during the last quarter. Institutional investors own 65.91% of the company's stock.

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International Bancshares Stock Performance

IBOC stock traded up $0.04 during midday trading on Thursday, reaching $63.81. 168,014 shares of the company's stock traded hands, compared to its average volume of 236,597. International Bancshares Co. has a 52-week low of $51.80 and a 52-week high of $76.91. The stock's 50-day moving average is $64.84 and its 200 day moving average is $65.03. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.97 billion, a P/E ratio of 9.92 and a beta of 0.88.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

International Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.80 annualized dividend and a yield of 4.39%. This is an increase from International Bancshares's previous quarterly dividend of $0.27. International Bancshares's payout ratio is currently 21.31%.

International Bancshares Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.