Teachers Retirement System of The State of Kentucky Boosts Stake in International Bancshares Co. (NASDAQ:IBOC)

Teachers Retirement System of The State of Kentucky raised its position in International Bancshares Co. (NASDAQ:IBOC) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,721 shares of the bank’s stock after buying an additional 5,548 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of International Bancshares worth $3,298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBOC. Rhumbline Advisers boosted its position in International Bancshares by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 207,493 shares of the bank’s stock valued at $8,993,000 after buying an additional 6,611 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of International Bancshares by 46.7% during the third quarter. Brandywine Global Investment Management LLC now owns 188,577 shares of the bank’s stock worth $8,173,000 after purchasing an additional 60,031 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of International Bancshares during the third quarter worth about $774,000. Covestor Ltd lifted its position in shares of International Bancshares by 69.9% during the third quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock worth $118,000 after purchasing an additional 1,118 shares during the last quarter. Finally, North Reef Capital Management LP lifted its position in shares of International Bancshares by 2.5% during the third quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock worth $71,511,000 after purchasing an additional 39,938 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the sale, the director now owns 1,282,133 shares in the company, valued at $76,607,446.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th.

International Bancshares Stock Performance

Shares of IBOC stock opened at $54.81 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71. International Bancshares Co. has a one year low of $41.96 and a one year high of $61.46. The company’s 50-day simple moving average is $56.55 and its 200-day simple moving average is $54.18. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 8.37 and a beta of 0.89.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings data on Thursday, May 2nd. The bank reported $1.56 earnings per share for the quarter. The firm had revenue of $205.85 million for the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%.

About International Bancshares

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.