Denali Advisors LLC Grows Stake in International Bancshares Co. (NASDAQ:IBOC)

Denali Advisors LLC grew its holdings in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) by 2,051.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,016 shares of the bank's stock after buying an additional 96,321 shares during the period. Denali Advisors LLC owned 0.16% of International Bancshares worth $6,380,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IBOC. Foundry Partners LLC purchased a new position in shares of International Bancshares during the third quarter valued at approximately $8,937,000. Boston Trust Walden Corp grew its stake in International Bancshares by 11.4% in the fourth quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank's stock worth $89,216,000 after purchasing an additional 144,684 shares during the period. Strategic Financial Concepts LLC purchased a new stake in International Bancshares in the fourth quarter worth $3,989,000. Azora Capital LP grew its stake in International Bancshares by 7.2% in the third quarter. Azora Capital LP now owns 905,453 shares of the bank's stock worth $54,137,000 after purchasing an additional 60,573 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in International Bancshares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank's stock worth $119,388,000 after purchasing an additional 55,406 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Stock Up 1.6 %

IBOC stock traded up $1.04 during midday trading on Friday, hitting $67.00. The stock had a trading volume of 453,128 shares, compared to its average volume of 287,144. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 10.42 and a beta of 0.93. The business has a 50-day moving average of $65.25 and a two-hundred day moving average of $64.80. International Bancshares Co. has a 52-week low of $50.77 and a 52-week high of $76.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

Remove Ads

International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly 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 business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.70 dividend. This is a boost from International Bancshares's previous quarterly dividend of $0.27. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, February 14th. International Bancshares's dividend payout ratio is currently 21.77%.

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.