International Bancshares Corporation $IBOC Shares Sold by Denali Advisors LLC

Denali Advisors LLC lessened its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,480 shares of the bank’s stock after selling 8,737 shares during the quarter. International Bancshares accounts for 0.8% of Denali Advisors LLC’s portfolio, making the stock its 29th largest position. Denali Advisors LLC owned approximately 0.17% of International Bancshares worth $8,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after purchasing an additional 402 shares during the last quarter. Hantz Financial Services Inc. boosted its position in International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after buying an additional 232 shares during the period. Versant Capital Management Inc increased its holdings in International Bancshares by 35.8% in the 2nd quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock worth $45,000 after buying an additional 157 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in International Bancshares during the 4th quarter worth approximately $47,000. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $71.53 on Thursday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 10.79 and a beta of 0.69. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The firm’s 50 day simple moving average is $75.36 and its 200-day simple moving average is $72.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share (EPS) 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 analyst estimates of $264.13 million.

International Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, International Bancshares currently has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares 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.