International Bancshares Co. (NASDAQ:IBOC) Sees Significant Decline in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,100,000 shares, a drop of 6.8% from the August 15th total of 1,180,000 shares. Based on an average trading volume of 235,500 shares, the days-to-cover ratio is presently 4.7 days. Approximately 2.0% of the shares of the stock are short sold.

International Bancshares Stock Performance

Shares of NASDAQ IBOC opened at $62.14 on Thursday. The stock’s fifty day simple moving average is $62.21 and its 200 day simple moving average is $58.12. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 9.49 and a beta of 0.88. 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 has a 52-week low of $41.96 and a 52-week high of $69.87.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Thursday, August 1st. The bank reported $1.56 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 16.66% and a net margin of 39.64%. The firm had revenue of $207.75 million for the quarter.

International Bancshares Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.66 dividend. This represents a yield of 2.3%. The ex-dividend date was Wednesday, August 14th. International Bancshares’s dividend payout ratio is 20.15%.

Institutional Trading of International Bancshares

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of International Bancshares in the fourth quarter worth $32,057,000. American Century Companies Inc. boosted its position in International Bancshares by 21.6% during the 2nd quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock worth $56,817,000 after acquiring an additional 176,334 shares during the period. Vanguard Group Inc. grew its stake in International Bancshares by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock valued at $366,673,000 after acquiring an additional 152,165 shares in the last quarter. Eldred Rock Partners LLC acquired a new position in shares of International Bancshares in the 1st quarter valued at about $7,765,000. Finally, First Trust Advisors LP boosted its holdings in shares of International Bancshares by 26.4% during the fourth 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 period. 65.91% of the stock is owned by institutional investors and hedge funds.

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.