Stifel Financial Corp bought a new position in International Bancshares Co. (NASDAQ:IBOC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,493 shares of the bank's stock, valued at approximately $508,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foundry Partners LLC purchased a new stake in International Bancshares during the third quarter worth about $8,937,000. Strategic Financial Concepts LLC purchased a new stake in shares of International Bancshares during the 2nd quarter worth approximately $39,000. Intech Investment Management LLC bought a new stake in shares of International Bancshares in the 2nd quarter worth approximately $756,000. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 55,406 shares during the period. Finally, Citigroup Inc. lifted its stake in 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. Hedge funds and other institutional investors own 65.91% of the company's stock.
Insider Buying and Selling at International Bancshares
In related news, CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.93% of the company's stock.
International Bancshares Stock Performance
NASDAQ:IBOC traded down $1.08 during trading hours on Friday, reaching $63.80. The stock had a trading volume of 178,443 shares, compared to its average volume of 229,186. The stock has a market cap of $3.97 billion, a P/E ratio of 9.92 and a beta of 0.90. The stock has a 50 day simple moving average of $68.12 and a 200 day simple moving average of $62.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. International Bancshares Co. has a 12-month low of $48.85 and a 12-month high of $76.91.
International Bancshares Company Profile
(
Free Report)
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.
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