International Bancshares Co. (NASDAQ:IBOC - Get Free Report) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 517,300 shares, a drop of 21.4% from the December 15th total of 658,500 shares. Currently, 0.9% of the company's shares are sold short. Based on an average daily volume of 243,000 shares, the days-to-cover ratio is presently 2.1 days.
Insider Buying and Selling
In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.93% of the stock is owned by corporate insiders.
Institutional Trading of International Bancshares
A number of institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank's stock valued at $131,000 after buying an additional 2,156 shares during the last quarter. Blue Trust Inc. increased its position in shares of International Bancshares by 564.8% in the third quarter. Blue Trust Inc. now owns 3,477 shares of the bank's stock valued at $199,000 after acquiring an additional 2,954 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of International Bancshares during the third quarter valued at about $202,000. Versor Investments LP purchased a new stake in shares of International Bancshares during the third quarter worth about $222,000. Finally, Centiva Capital LP bought a new stake in shares of International Bancshares in the third quarter worth about $250,000. Hedge funds and other institutional investors own 65.91% of the company's stock.
International Bancshares Trading Up 0.7 %
IBOC stock traded up $0.45 during trading on Friday, hitting $65.98. 174,404 shares of the company traded hands, compared to its average volume of 235,228. The company has a 50-day moving average of $68.14 and a 200-day moving average of $63.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. International Bancshares has a 1 year low of $48.85 and a 1 year high of $76.91. The firm has a market capitalization of $4.10 billion, a PE ratio of 10.26 and a beta of 0.93.
About International Bancshares
(
Get 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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