Vanguard Group Inc. Raises Stake in International Bancshares Co. (NASDAQ:IBOC)

Vanguard Group Inc. increased its stake in International Bancshares Co. (NASDAQ:IBOC) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,379,230 shares of the bank’s stock after buying an additional 5,303 shares during the period. Vanguard Group Inc. owned 10.26% of International Bancshares worth $346,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of International Bancshares by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,539,677 shares of the bank’s stock valued at $83,635,000 after acquiring an additional 29,818 shares in the last quarter. Boston Trust Walden Corp raised its position in International Bancshares by 77.2% during the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after purchasing an additional 444,674 shares in the last quarter. 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 buying an additional 136,043 shares during the period. Reinhart Partners LLC. grew its position in shares of International Bancshares by 10.3% during the 4th quarter. Reinhart Partners LLC. now owns 621,602 shares of the bank’s stock worth $33,765,000 after buying an additional 57,944 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of International Bancshares during the fourth quarter valued at $32,057,000. 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 the company’s 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 of the company’s stock, valued at $76,607,446.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.93% of the stock is currently owned by corporate insiders.

International Bancshares Stock Up 1.7 %

International Bancshares stock opened at $57.21 on Friday. International Bancshares Co. has a twelve month low of $41.96 and a twelve month high of $61.46. The business has a fifty day moving average of $56.96 and a two-hundred day moving average of $54.47. The firm has a market cap of $3.56 billion, a P/E ratio of 8.73 and a beta of 0.89. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05.

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

Analyst Upgrades and Downgrades

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

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.