Wellington Management Group LLP trimmed its holdings in shares of International Bancshares Co. (NASDAQ:IBOC - Free Report) by 51.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,649 shares of the bank's stock after selling 450,164 shares during the quarter. Wellington Management Group LLP owned 0.67% of International Bancshares worth $24,911,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in shares of International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank's stock worth $29,000 after buying an additional 306 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in International Bancshares in the second quarter worth about $39,000. CWM LLC grew its holdings in International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank's stock worth $131,000 after acquiring an additional 2,156 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in International Bancshares during the 3rd quarter valued at about $202,000. Finally, Versor Investments LP bought a new stake in shares of International Bancshares in the 3rd quarter valued at about $222,000. 65.91% of the stock is owned by hedge funds and other institutional investors.
International Bancshares Stock Down 0.4 %
Shares of NASDAQ IBOC traded down $0.31 during midday trading on Friday, reaching $69.80. 145,750 shares of the company's stock traded hands, compared to its average volume of 221,501. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 10.86 and a beta of 0.90. The stock's 50 day simple moving average is $67.28 and its 200-day simple moving average is $62.32. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. International Bancshares Co. has a one year low of $48.85 and a one year high of $76.91.
Insider Buying and Selling at International Bancshares
In other International Bancshares news, CEO Dennis E. Nixon sold 34,815 shares of the firm's 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 sale, the chief executive officer now directly owns 965,185 shares in the company, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.93% of the stock is owned by insiders.
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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