Texas Permanent School Fund Has $1.24 Million Stake in International Bancshares Corp (IBOC)

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Texas Permanent School Fund lifted its stake in shares of International Bancshares Corp (NASDAQ:IBOC) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 35,932 shares of the bank’s stock after buying an additional 1,393 shares during the quarter. Texas Permanent School Fund’s holdings in International Bancshares were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC raised its stake in shares of International Bancshares by 18.2% during the third quarter. MetLife Investment Advisors LLC now owns 70,466 shares of the bank’s stock worth $3,171,000 after purchasing an additional 10,858 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of International Bancshares by 0.6% during the third quarter. Allianz Asset Management GmbH now owns 287,460 shares of the bank’s stock worth $12,936,000 after purchasing an additional 1,700 shares during the last quarter. Vanguard Group Inc raised its stake in shares of International Bancshares by 2.3% during the third quarter. Vanguard Group Inc now owns 5,381,184 shares of the bank’s stock worth $242,152,000 after purchasing an additional 119,663 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of International Bancshares by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 80,619 shares of the bank’s stock worth $3,628,000 after purchasing an additional 14,296 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of International Bancshares by 12.5% during the fourth quarter. Bank of Montreal Can now owns 119,527 shares of the bank’s stock worth $4,111,000 after purchasing an additional 13,303 shares during the last quarter. Institutional investors and hedge funds own 58.44% of the company’s stock.

Shares of International Bancshares stock traded up $0.28 during trading hours on Friday, hitting $40.77. 196,878 shares of the company were exchanged, compared to its average volume of 207,981. International Bancshares Corp has a 1 year low of $32.56 and a 1 year high of $47.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $2.62 billion, a PE ratio of 12.33 and a beta of 1.37.

Separately, BidaskClub cut International Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, November 30th.

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International Bancshares Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.

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Want to see what other hedge funds are holding IBOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Bancshares Corp (NASDAQ:IBOC).

Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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