Edgestream Partners L.P. Decreases Stock Holdings in International Bancshares Co. (NASDAQ:IBOC)

Edgestream Partners L.P. cut its position in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 76.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,277 shares of the bank's stock after selling 58,862 shares during the period. Edgestream Partners L.P.'s holdings in International Bancshares were worth $1,093,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IBOC. American Century Companies Inc. lifted its holdings in shares of International Bancshares by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 993,128 shares of the bank's stock valued at $56,817,000 after buying an additional 176,334 shares during the period. Foundry Partners LLC acquired a new position in International Bancshares in the third quarter valued at approximately $8,937,000. AQR Capital Management LLC boosted its position in International Bancshares by 45.7% in the 2nd quarter. AQR Capital Management LLC now owns 316,260 shares of the bank's stock worth $17,983,000 after purchasing an additional 99,164 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of International Bancshares during the 2nd quarter worth approximately $39,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction on 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 sale, the chief executive officer now owns 965,185 shares of the company's stock, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.93% of the company's stock.

International Bancshares Stock Performance

Shares of IBOC traded down $0.84 during trading hours on Thursday, hitting $71.71. The stock had a trading volume of 149,877 shares, compared to its average volume of 222,394. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 11.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50-day moving average price of $65.78 and a 200 day moving average price of $61.83. International Bancshares Co. has a fifty-two week low of $48.14 and a fifty-two week high of $76.91.

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.