Goldman Sachs Group Inc. Trims Stock Position in International Bancshares Co. (NASDAQ:IBOC)

Goldman Sachs Group Inc. cut its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 473,541 shares of the bank’s stock after selling 31,776 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.76% of International Bancshares worth $25,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of International Bancshares by 3.3% during the third quarter. Rhumbline Advisers now owns 207,493 shares of the bank’s stock valued at $8,993,000 after purchasing an additional 6,611 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of International Bancshares during the third quarter valued at approximately $774,000. Westover Capital Advisors LLC boosted its stake in shares of International Bancshares by 25.5% during the third quarter. Westover Capital Advisors LLC now owns 6,316 shares of the bank’s stock valued at $274,000 after purchasing an additional 1,283 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of International Bancshares by 777.6% during the third quarter. Qube Research & Technologies Ltd now owns 58,266 shares of the bank’s stock valued at $2,525,000 after purchasing an additional 51,627 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in International Bancshares by 40.2% in the third quarter. AQR Capital Management LLC now owns 136,942 shares of the bank’s stock valued at $5,935,000 after acquiring an additional 39,261 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of IBOC opened at $55.46 on Tuesday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 8.47 and a beta of 0.89. International Bancshares Co. has a twelve month low of $41.96 and a twelve month high of $61.46. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $56.72 and a two-hundred day moving average of $54.35.

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

Insiders Place Their Bets

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total value of $1,799,192.00. Following the completion of the transaction, the director now owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.