SOL Capital Management CO Lowers Stock Holdings in International Bancshares Co. (NASDAQ:IBOC)

SOL Capital Management CO decreased its position in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,525 shares of the bank's stock after selling 25,000 shares during the period. International Bancshares makes up approximately 1.5% of SOL Capital Management CO's holdings, making the stock its 13th biggest position. SOL Capital Management CO owned 0.37% of International Bancshares worth $13,843,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its position in shares of International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank's stock valued at $29,000 after purchasing an additional 306 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in International Bancshares in the 2nd quarter worth approximately $39,000. LRI Investments LLC purchased a new stake in International Bancshares in the 1st quarter worth approximately $117,000. CWM LLC increased its holdings in International Bancshares by 5,673.7% in the 3rd quarter. CWM LLC now owns 2,194 shares of the bank's stock worth $131,000 after acquiring an additional 2,156 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in International Bancshares in the 1st quarter worth approximately $151,000. Hedge funds and other institutional investors own 65.91% of the company's stock.

International Bancshares Price Performance

IBOC stock traded down $0.67 during midday trading on Thursday, hitting $61.69. The company's stock had a trading volume of 233,017 shares, compared to its average volume of 221,228. International Bancshares Co. has a 12 month low of $42.35 and a 12 month high of $69.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 9.52 and a beta of 0.87. The company has a 50 day moving average of $61.10 and a two-hundred day moving average of $59.25.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted its earnings results on Thursday, August 1st. The bank reported $1.56 EPS for the quarter. International Bancshares had a return on equity of 16.66% and a net margin of 39.64%. The firm had revenue of $207.75 million during the quarter.

International Bancshares Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a $0.66 dividend. This represents a yield of 2.3%. The ex-dividend date was Wednesday, August 14th. International Bancshares's payout ratio is currently 20.15%.

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.