International Bancshares Co. (NASDAQ:IBOC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,712 shares of the bank's stock after acquiring an additional 6,107 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of International Bancshares worth $2,470,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in International Bancshares by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank's stock worth $10,483,000 after purchasing an additional 24,902 shares during the last quarter. Foundry Partners LLC purchased a new stake in International Bancshares during the 3rd quarter valued at about $8,937,000. Stifel Financial Corp acquired a new stake in International Bancshares in the 3rd quarter valued at about $508,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Bancshares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank's stock worth $119,388,000 after purchasing an additional 55,406 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of International Bancshares by 18.1% in the third quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock valued at $4,620,000 after purchasing an additional 11,834 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Trading Up 0.3 %

NASDAQ IBOC traded up $0.22 on Thursday, reaching $65.06. 285,598 shares of the company were exchanged, compared to its average volume of 283,586. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The business's fifty day moving average price is $66.03 and its 200 day moving average price is $64.47. The stock has a market capitalization of $4.05 billion, a P/E ratio of 10.12 and a beta of 0.93. International Bancshares Co. has a fifty-two week low of $48.85 and a fifty-two week high of $76.91.

International Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.70 per share. This is a boost from International Bancshares's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.80 annualized dividend and a dividend yield of 4.30%. International Bancshares's payout ratio is presently 20.53%.

International Bancshares Company 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.