SOL Capital Management CO Has $13.36 Million Stake in International Bancshares Co. (NASDAQ:IBOC)

SOL Capital Management CO decreased its position in International Bancshares Co. (NASDAQ:IBOC - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,525 shares of the bank's stock after selling 20,000 shares during the period. International Bancshares comprises approximately 1.5% of SOL Capital Management CO's holdings, making the stock its 15th largest holding. SOL Capital Management CO owned 0.34% of International Bancshares worth $13,360,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of International Bancshares by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank's stock worth $10,483,000 after buying an additional 24,902 shares in the last quarter. Foundry Partners LLC bought a new stake in International Bancshares during the 3rd quarter worth approximately $8,937,000. Stifel Financial Corp bought a new stake in International Bancshares during the 3rd quarter worth approximately $508,000. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 55,406 shares during the last quarter. Finally, Citigroup Inc. grew its position in International Bancshares by 18.1% during 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 during the last quarter. Institutional investors and hedge funds own 65.91% of the company's stock.

Insider Transactions at International Bancshares

In related news, CEO Dennis E. Nixon sold 34,815 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the sale, the chief executive officer now owns 965,185 shares of the company's stock, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 13.93% of the stock is owned by corporate insiders.

International Bancshares Trading Up 2.3 %

IBOC traded up $1.51 during mid-day trading on Tuesday, reaching $66.46. The stock had a trading volume of 101,034 shares, compared to its average volume of 296,805. 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 stock has a market capitalization of $4.13 billion, a P/E ratio of 10.33 and a beta of 0.93. The firm's fifty day simple moving average is $67.10 and its two-hundred day simple moving average is $64.49.

International Bancshares (NASDAQ:IBOC - Get Free Report) last posted 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 business 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 $0.70 dividend. 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 4.21%. International Bancshares's dividend payout ratio (DPR) is currently 20.53%.

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.