Vanguard Group Inc. Decreases Holdings in International Bancshares Corporation $IBOC

Vanguard Group Inc. trimmed its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,302,986 shares of the bank’s stock after selling 39,181 shares during the period. Vanguard Group Inc. owned about 10.14% of International Bancshares worth $433,330,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in International Bancshares by 46.1% in the second quarter. CWM LLC now owns 1,229 shares of the bank’s stock valued at $82,000 after acquiring an additional 388 shares during the last quarter. Covestor Ltd grew its holdings in International Bancshares by 19.9% during the third quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock valued at $82,000 after purchasing an additional 199 shares during the period. Raymond James Financial Inc. purchased a new stake in International Bancshares in the second quarter worth $127,000. EverSource Wealth Advisors LLC increased its position in International Bancshares by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock worth $156,000 after buying an additional 341 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of International Bancshares in the second quarter valued at $200,000. Institutional investors own 65.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Loop Capital set a $85.00 price target on International Bancshares in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $85.00.

International Bancshares Trading Up 1.5%

International Bancshares stock opened at $69.86 on Thursday. The stock has a market cap of $4.34 billion, a P/E ratio of 10.33 and a beta of 0.73. International Bancshares Corporation has a fifty-two week low of $54.11 and a fifty-two week high of $75.44. The firm’s fifty day moving average price is $70.10 and its 200-day moving average price is $69.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76.

International Bancshares Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a dividend yield of 203.0%. International Bancshares’s dividend payout ratio is presently 21.60%.

International Bancshares Company Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.