Norges Bank Invests $39.91 Million in International Bancshares Co. (NASDAQ:IBOC)

Norges Bank acquired a new position in International Bancshares Co. (NASDAQ:IBOC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 631,928 shares of the bank's stock, valued at approximately $39,913,000. Norges Bank owned 1.02% of International Bancshares at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBOC. Vanguard Group Inc. increased its position in shares of International Bancshares by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,407,121 shares of the bank's stock worth $404,674,000 after acquiring an additional 18,408 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of International Bancshares by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,078,168 shares of the bank's stock worth $131,257,000 after acquiring an additional 81,386 shares during the period. American Century Companies Inc. increased its position in shares of International Bancshares by 57.0% during the fourth quarter. American Century Companies Inc. now owns 1,753,478 shares of the bank's stock worth $110,750,000 after acquiring an additional 636,533 shares during the period. Boston Trust Walden Corp increased its position in shares of International Bancshares by 11.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank's stock worth $89,216,000 after acquiring an additional 144,684 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of International Bancshares by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,352,406 shares of the bank's stock worth $80,874,000 after acquiring an additional 9,986 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

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International Bancshares Stock Down 4.6 %

Shares of NASDAQ IBOC traded down $2.76 during midday trading on Thursday, reaching $57.53. 37,348 shares of the company's stock traded hands, compared to its average volume of 323,427. 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 stock's 50 day simple moving average is $63.38 and its 200-day simple moving average is $64.91. International Bancshares Co. has a one year low of $51.80 and a one year high of $76.91. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 8.95 and a beta of 0.80.

International Bancshares (NASDAQ:IBOC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The bank reported $1.85 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, February 14th. This is an increase from International Bancshares's previous quarterly dividend of $0.27. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.87%. International Bancshares's dividend payout ratio (DPR) is currently 21.31%.

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.