Corebridge Financial Inc. Sells 4,720 Shares of International Bancshares Co. (NASDAQ:IBOC)

Corebridge Financial Inc. lowered its position in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,040 shares of the bank's stock after selling 4,720 shares during the period. Corebridge Financial Inc. owned 0.14% of International Bancshares worth $5,497,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of International Bancshares by 57.0% during the fourth quarter. American Century Companies Inc. now owns 1,753,478 shares of the bank's stock worth $110,750,000 after purchasing an additional 636,533 shares during the period. Boston Trust Walden Corp lifted its position in International Bancshares by 11.4% in the 4th quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank's stock valued at $89,216,000 after acquiring an additional 144,684 shares in the last quarter. Denali Advisors LLC boosted its stake in International Bancshares by 2,051.6% during the 4th quarter. Denali Advisors LLC now owns 101,016 shares of the bank's stock valued at $6,380,000 after purchasing an additional 96,321 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of International Bancshares by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,078,168 shares of the bank's stock worth $131,257,000 after purchasing an additional 81,386 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of International Bancshares in the fourth quarter valued at approximately $4,448,000. Institutional investors and hedge funds own 65.91% of the company's stock.

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International Bancshares Stock Down 7.5 %

NASDAQ IBOC traded down $4.71 on Thursday, reaching $57.88. The company had a trading volume of 350,166 shares, compared to its average volume of 250,684. 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 company's fifty day moving average is $64.42 and its 200 day moving average is $65.08. International Bancshares Co. has a 52-week low of $51.80 and a 52-week high of $76.91. The stock has a market capitalization of $3.60 billion, a P/E ratio of 9.00 and a beta of 0.88.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The firm 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 represents a $2.80 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from International Bancshares's previous quarterly dividend of $0.27. International Bancshares's 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.