Geode Capital Management LLC Reduces Position in International Bancshares Co. (NASDAQ:IBOC)

Geode Capital Management LLC lessened its stake in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,345,309 shares of the bank's stock after selling 7,097 shares during the quarter. Geode Capital Management LLC owned about 2.16% of International Bancshares worth $84,988,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. KBC Group NV boosted its stake in International Bancshares by 71.2% during the 4th quarter. KBC Group NV now owns 2,612 shares of the bank's stock valued at $165,000 after purchasing an additional 1,086 shares during the last quarter. Monument Capital Management boosted its position in shares of International Bancshares by 12.1% during the fourth quarter. Monument Capital Management now owns 3,955 shares of the bank's stock valued at $250,000 after buying an additional 427 shares during the last quarter. Centiva Capital LP bought a new stake in International Bancshares during the third quarter worth $250,000. Cibc World Markets Corp purchased a new stake in International Bancshares in the 4th quarter valued at $320,000. Finally, Quantinno Capital Management LP lifted its stake in International Bancshares by 4.3% during the 3rd quarter. Quantinno Capital Management LP now owns 5,465 shares of the bank's stock valued at $327,000 after acquiring an additional 223 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Stock Down 0.2 %

International Bancshares stock traded down $0.10 during midday trading on Wednesday, hitting $58.28. 33,574 shares of the stock were exchanged, compared to its average volume of 255,557. International Bancshares Co. has a 52-week low of $51.80 and a 52-week high of $76.91. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The business's 50-day moving average price is $62.62 and its 200-day moving average price is $64.84. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.05 and a beta of 0.80.

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International Bancshares (NASDAQ:IBOC - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $1.85 EPS 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 declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given 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 4.80%. This is a positive change from International Bancshares's previous quarterly dividend of $0.27. International Bancshares's dividend payout ratio is presently 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.