Polaris Capital Management LLC Has $42.81 Million Stock Holdings in International Bancshares Co. (NASDAQ:IBOC)

Polaris Capital Management LLC lessened its position in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,808 shares of the bank's stock after selling 29,600 shares during the period. International Bancshares accounts for about 2.1% of Polaris Capital Management LLC's portfolio, making the stock its 12th biggest holding. Polaris Capital Management LLC owned about 1.09% of International Bancshares worth $42,810,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IBOC. JPMorgan Chase & Co. increased its holdings in International Bancshares by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank's stock valued at $10,483,000 after purchasing an additional 24,902 shares during the period. Foundry Partners LLC bought a new position in International Bancshares during the 3rd quarter worth $8,937,000. Stifel Financial Corp bought a new position in shares of International Bancshares in the 3rd quarter worth about $508,000. Charles Schwab Investment Management Inc. raised its position in shares of International Bancshares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank's stock worth $119,388,000 after acquiring an additional 55,406 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of International Bancshares by 18.1% in the 3rd quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock worth $4,620,000 after acquiring an additional 11,834 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Trading Up 0.7 %

Shares of IBOC stock traded up $0.45 during mid-day trading on Friday, hitting $64.81. The company's stock had a trading volume of 104,743 shares, compared to its average volume of 277,344. The company's fifty day simple moving average is $66.03 and its 200-day simple moving average is $64.47. International Bancshares Co. has a 52 week low of $48.85 and a 52 week high of $76.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $4.03 billion, a PE ratio of 10.11 and a beta of 0.93.

International Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.70 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from International Bancshares's previous quarterly dividend of $0.27. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. International Bancshares's dividend payout ratio (DPR) is 20.53%.

About International Bancshares

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.