International Bancshares Co. (NASDAQ:IBOC) Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its holdings in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,278 shares of the bank's stock after purchasing an additional 11,834 shares during the period. Citigroup Inc. owned about 0.12% of International Bancshares worth $4,620,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 55,406 shares in the last quarter. Foundry Partners LLC acquired a new position in International Bancshares during the third quarter worth $8,937,000. Intech Investment Management LLC lifted its holdings in International Bancshares by 7.7% during the third quarter. Intech Investment Management LLC now owns 14,238 shares of the bank's stock valued at $851,000 after purchasing an additional 1,018 shares in the last quarter. Quest Partners LLC grew its position in shares of International Bancshares by 18.8% in the third quarter. Quest Partners LLC now owns 13,421 shares of the bank's stock valued at $802,000 after purchasing an additional 2,127 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of International Bancshares by 4.4% during the third quarter. Thrivent Financial for Lutherans now owns 13,595 shares of the bank's stock worth $813,000 after purchasing an additional 575 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the sale, the chief executive officer now directly owns 965,185 shares in the company, valued at $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.93% of the company's stock.

International Bancshares Price Performance

Shares of IBOC traded down $0.75 during mid-day trading on Tuesday, hitting $72.07. 185,477 shares of the company were exchanged, compared to its average volume of 222,769. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. International Bancshares Co. has a 1-year low of $46.60 and a 1-year high of $76.91. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 11.21 and a beta of 0.90. The company has a 50 day moving average of $65.51 and a 200-day moving average of $61.75.

About International Bancshares

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.