Strategic Financial Concepts LLC bought a new position in International Bancshares Co. (NASDAQ:IBOC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 63,160 shares of the bank's stock, valued at approximately $3,989,000. Strategic Financial Concepts LLC owned 0.10% of International Bancshares as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in International Bancshares by 16.6% during the 3rd 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 in the last quarter. Foundry Partners LLC bought a new stake in International Bancshares during the 3rd quarter valued at $8,937,000. Stifel Financial Corp bought a new stake in International Bancshares during the 3rd quarter valued at $508,000. Charles Schwab Investment Management Inc. increased 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 valued at $119,388,000 after acquiring an additional 55,406 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of International Bancshares by 18.1% in the 3rd quarter. Citigroup Inc. now owns 77,278 shares of the bank's stock valued at $4,620,000 after acquiring an additional 11,834 shares during the period. 65.91% of the stock is owned by institutional investors.
International Bancshares Stock Down 0.6 %
Shares of NASDAQ:IBOC traded down $0.42 on Thursday, reaching $65.77. The company had a trading volume of 235,402 shares, compared to its average volume of 283,349. International Bancshares Co. has a 52-week low of $48.85 and a 52-week high of $76.91. The firm's 50 day simple moving average is $65.44 and its 200-day simple moving average is $64.47. The firm has a market capitalization of $4.09 billion, a PE ratio of 10.23 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.
International Bancshares Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.26%. This is an increase from International Bancshares's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, February 14th. International Bancshares's payout ratio is 21.77%.
About International Bancshares
(
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.
Further Reading
Before you consider International Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and International Bancshares wasn't on the list.
While International Bancshares currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
