Deutsche Bank AG Makes New Investment in International Bancshares Corporation $IBOC

Deutsche Bank AG acquired a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,497 shares of the bank’s stock, valued at approximately $4,367,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its holdings in International Bancshares by 35.8% in the second quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock valued at $45,000 after purchasing an additional 157 shares during the period. Janney Montgomery Scott LLC grew its stake in International Bancshares by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank’s stock worth $511,000 after purchasing an additional 168 shares in the last quarter. Cetera Investment Advisers increased its holdings in International Bancshares by 5.3% during the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock worth $242,000 after purchasing an additional 184 shares during the period. WINTON GROUP Ltd increased its holdings in International Bancshares by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock worth $1,223,000 after purchasing an additional 196 shares during the period. Finally, State of Michigan Retirement System raised its position in International Bancshares by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 13,012 shares of the bank’s stock valued at $876,000 after purchasing an additional 200 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Trading Down 1.0%

Shares of NASDAQ:IBOC opened at $70.81 on Wednesday. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46. The company’s 50 day moving average is $75.01 and its two-hundred day moving average is $72.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.40 billion, a PE ratio of 10.68 and a beta of 0.69.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). The firm had revenue of $214.82 million during the quarter, compared to analyst estimates of $264.13 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.73 dividend. This represents a yield of 199.0%. The ex-dividend date of this dividend is Friday, August 14th. International Bancshares’s dividend payout ratio is 22.02%.

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.