International Bancshares Corporation $IBOC Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 46.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,974 shares of the bank’s stock after selling 23,575 shares during the period. Vest Financial LLC’s holdings in International Bancshares were worth $1,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in shares of International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after buying an additional 402 shares in the last quarter. Allworth Financial LP bought a new stake in shares of International Bancshares in the second quarter worth $42,000. Versant Capital Management Inc raised 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 acquiring an additional 157 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in International Bancshares by 117.9% in the third quarter. Farther Finance Advisors LLC now owns 680 shares of the bank’s stock valued at $47,000 after acquiring an additional 368 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in International Bancshares in the second quarter valued at $49,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Stock Down 0.2%

NASDAQ:IBOC opened at $67.16 on Friday. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 10.13 and a beta of 0.68. International Bancshares Corporation has a one year low of $63.19 and a one year high of $78.46. The stock has a 50-day simple moving average of $69.72 and a 200 day simple moving average of $72.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77.

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 the consensus estimate of $1.61 by ($0.07). International Bancshares had a net margin of 38.83% and a return on equity of 12.67%. The firm had revenue of $214.82 million during the quarter, compared to the consensus estimate of $264.13 million.

International Bancshares Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares’s dividend payout ratio (DPR) is presently 22.02%.

International Bancshares Profile

International Bancshares Corporation is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides banking and related financial services to individuals, businesses and institutions.

IBC Bank offers consumer and commercial deposit accounts, business and personal lending, mortgage services, cash management, treasury services, trust and wealth management, and international banking. Its products are designed to support everyday banking needs as well as commercial financing and cross-border transactions.

Founded in 1966, International Bancshares Corporation has built a regional banking franchise serving communities across South, Central and Southeast Texas, as well as Oklahoma.