Geode Capital Management LLC boosted its position in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,352,406 shares of the bank's stock after acquiring an additional 9,986 shares during the quarter. Geode Capital Management LLC owned 2.17% of International Bancshares worth $80,874,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Foundry Partners LLC bought a new stake in shares of International Bancshares during the 3rd quarter valued at $8,937,000. Strategic Financial Concepts LLC bought a new stake in International Bancshares during the second quarter valued at about $39,000. Intech Investment Management LLC purchased a new stake in International Bancshares in the second quarter worth about $756,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 55,406 shares during the period. Finally, Citigroup Inc. lifted its position in shares of International Bancshares by 18.1% during the 3rd quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock valued at $4,620,000 after buying an additional 11,834 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CEO Dennis E. Nixon sold 34,815 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at $69,667,053.30. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.93% of the company's stock.
International Bancshares Stock Performance
Shares of NASDAQ:IBOC traded up $1.45 during mid-day trading on Friday, reaching $64.31. 1,675,384 shares of the company traded hands, compared to its average volume of 230,335. International Bancshares Co. has a 52 week low of $48.85 and a 52 week high of $76.91. The firm has a market cap of $4.00 billion, a PE ratio of 10.00 and a beta of 0.90. The company's 50 day moving average price is $68.11 and its 200-day moving average price is $62.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.
International Bancshares Company Profile
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Free Report)
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.
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