International Bancshares Co. (NASDAQ:IBOC) Shares Sold by Fmr LLC

FMR LLC reduced its stake in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) by 98.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,295 shares of the bank's stock after selling 268,997 shares during the period. FMR LLC's holdings in International Bancshares were worth $197,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IBOC. Foundry Partners LLC purchased a new position in shares of International Bancshares in the third quarter worth $8,937,000. Strategic Financial Concepts LLC bought a new position in International Bancshares in the 2nd quarter valued at $39,000. Intech Investment Management LLC purchased a new position in International Bancshares in the 2nd quarter worth about $756,000. Charles Schwab Investment Management Inc. increased its position in shares of International Bancshares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank's stock worth $119,388,000 after acquiring an additional 55,406 shares during the period. Finally, Citigroup Inc. increased its holdings in International Bancshares by 18.1% during the 3rd quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock worth $4,620,000 after purchasing an additional 11,834 shares during the period. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Stock Up 2.3 %

Shares of IBOC stock traded up $1.45 on Friday, hitting $64.31. The stock had a trading volume of 1,675,384 shares, compared to its average volume of 230,335. International Bancshares Co. has a one year low of $48.85 and a one year 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 company has a market cap of $4.00 billion, a PE ratio of 10.00 and a beta of 0.90. The business has a 50 day moving average price of $68.11 and a 200 day moving average price of $62.83.

Insider Activity

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm's stock in a transaction dated 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 directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.93% of the company's stock.

About International Bancshares

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.