Principal Financial Group Inc. Sells 53,510 Shares of International Bancshares Co. (NASDAQ:IBOC)

Principal Financial Group Inc. trimmed its stake in International Bancshares Co. (NASDAQ:IBOC) by 26.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,893 shares of the bank’s stock after selling 53,510 shares during the period. Principal Financial Group Inc. owned 0.24% of International Bancshares worth $8,962,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IBOC. American Century Companies Inc. increased its position in International Bancshares by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock worth $56,817,000 after buying an additional 176,334 shares during the period. Vanguard Group Inc. increased its position in International Bancshares by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock worth $366,673,000 after buying an additional 152,165 shares during the period. AQR Capital Management LLC increased its position in International Bancshares by 45.7% in the 2nd quarter. AQR Capital Management LLC now owns 316,260 shares of the bank’s stock worth $17,983,000 after buying an additional 99,164 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of International Bancshares during the 2nd quarter worth approximately $4,413,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of International Bancshares during the 2nd quarter worth approximately $39,000. 65.91% of the stock is owned by institutional investors.

Insider Buying and Selling at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the sale, the chief executive officer now owns 965,185 shares in the company, valued at approximately $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.93% of the company’s stock.

International Bancshares Price Performance

Shares of NASDAQ:IBOC opened at $70.82 on Tuesday. International Bancshares Co. has a 1-year low of $44.24 and a 1-year high of $73.82. The firm has a market capitalization of $4.41 billion, a PE ratio of 11.01 and a beta of 0.87. The business’s 50 day moving average is $62.80 and its 200-day moving average is $60.70. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.

International Bancshares 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.