JPMorgan Chase & Co. Acquires 24,902 Shares of International Bancshares Co. (NASDAQ:IBOC)

JPMorgan Chase & Co. increased its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,330 shares of the bank’s stock after acquiring an additional 24,902 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of International Bancshares worth $10,483,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. lifted its position in International Bancshares by 21.6% in the second quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock worth $56,817,000 after purchasing an additional 176,334 shares during the period. Foundry Partners LLC acquired a new stake in International Bancshares during the third quarter valued at approximately $8,937,000. AQR Capital Management LLC raised its stake in International Bancshares by 45.7% during the second quarter. AQR Capital Management LLC now owns 316,260 shares of the bank’s stock worth $17,983,000 after acquiring an additional 99,164 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of International Bancshares during the second quarter valued at $4,413,000. Finally, Azora Capital LP boosted its stake in shares of International Bancshares by 7.2% in the 3rd quarter. Azora Capital LP now owns 905,453 shares of the bank’s stock valued at $54,137,000 after purchasing an additional 60,573 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

Insider Activity

In other news, CEO Dennis E. Nixon sold 34,815 shares of the business’s 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 completion of the sale, the chief executive officer now owns 965,185 shares in the company, valued at $69,667,053.30. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.93% of the stock is currently owned by corporate insiders.

International Bancshares Stock Performance

NASDAQ IBOC opened at $62.72 on Monday. The company has a 50 day moving average of $68.37 and a 200-day moving average of $63.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 9.75 and a beta of 0.93. International Bancshares Co. has a 1-year low of $48.85 and a 1-year high of $76.91.

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.