International Bancshares Co. (NASDAQ:IBOC - Get Free Report) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 517,300 shares, a decrease of 21.4% from the December 31st total of 658,500 shares. Based on an average trading volume of 243,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.9% of the company's stock are short sold.
Insider Transactions at International Bancshares
In related news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 965,185 shares of the company's stock, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.93% of the company's stock.
Institutional Trading of International Bancshares
A number of institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its position in International Bancshares by 3.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,625 shares of the bank's stock worth $336,000 after buying an additional 208 shares during the period. Quantinno Capital Management LP boosted its position in shares of International Bancshares by 4.3% in the third quarter. Quantinno Capital Management LP now owns 5,465 shares of the bank's stock worth $327,000 after acquiring an additional 223 shares during the last quarter. Hancock Whitney Corp increased its position in International Bancshares by 1.7% during the third quarter. Hancock Whitney Corp now owns 19,012 shares of the bank's stock worth $1,137,000 after purchasing an additional 314 shares during the last quarter. State of Alaska Department of Revenue raised its stake in International Bancshares by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 6,188 shares of the bank's stock worth $369,000 after purchasing an additional 420 shares during the period. Finally, Monument Capital Management boosted its holdings in shares of International Bancshares by 12.1% in the 4th quarter. Monument Capital Management now owns 3,955 shares of the bank's stock valued at $250,000 after purchasing an additional 427 shares during the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.
International Bancshares Stock Performance
Shares of IBOC stock traded down $0.94 during mid-day trading on Monday, hitting $64.95. 478,438 shares of the stock were exchanged, compared to its average volume of 306,754. The stock's fifty day simple moving average is $67.10 and its two-hundred day simple moving average is $64.49. 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 12-month low of $48.85 and a 12-month high of $76.91. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 10.10 and a beta of 0.93.
International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share (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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.31%. This is a positive change from International Bancshares's previous quarterly dividend of $0.27. International Bancshares's payout ratio is currently 20.53%.
International Bancshares Company Profile
(
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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