International Bancshares Co. (NASDAQ:IBOC) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 35.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,785,537 shares of the bank’s stock after selling 992,511 shares during the period. Wellington Management Group LLP owned about 2.87% of International Bancshares worth $96,990,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of International Bancshares by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,373,927 shares of the bank’s stock worth $276,246,000 after purchasing an additional 32,145 shares during the last quarter. North Reef Capital Management LP lifted its holdings in shares of International Bancshares by 2.5% in the 3rd 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of International Bancshares by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,539,677 shares of the bank’s stock worth $83,635,000 after purchasing an additional 29,818 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of International Bancshares by 77.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock worth $55,434,000 after purchasing an additional 444,674 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of International Bancshares by 26.4% in the 4th quarter. First Trust Advisors LP now owns 651,845 shares of the bank’s stock worth $35,408,000 after purchasing an additional 136,043 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

Insider Activity at International Bancshares

In other news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of International Bancshares stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the transaction, the director now directly owns 1,282,133 shares in the company, valued at approximately $76,607,446.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

International Bancshares Stock Up 0.5 %

IBOC opened at $55.03 on Friday. International Bancshares Co. has a 12 month low of $41.96 and a 12 month high of $61.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $3.42 billion, a P/E ratio of 8.40 and a beta of 0.89. The stock’s 50 day moving average price is $56.67 and its 200 day moving average price is $54.23.

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

International Bancshares Company Profile

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.