Bank of New York Mellon Corp Sells 133,437 Shares of International Bancshares Co. (NASDAQ:IBOC)

Bank of New York Mellon Corp cut its position in International Bancshares Co. (NASDAQ:IBOC) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 497,450 shares of the bank’s stock after selling 133,437 shares during the period. Bank of New York Mellon Corp owned about 0.80% of International Bancshares worth $31,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Foundry Partners LLC bought a new position in International Bancshares during the third quarter valued at $8,937,000. Boston Trust Walden Corp lifted its position in International Bancshares by 11.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank’s stock valued at $89,216,000 after purchasing an additional 144,684 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in International Bancshares during the fourth quarter valued at $3,989,000. Azora Capital LP lifted its position in International Bancshares by 7.2% during the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in International Bancshares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank’s stock valued at $119,388,000 after purchasing an additional 55,406 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

International Bancshares stock opened at $61.89 on Friday. The firm has a 50-day moving average price of $65.13 and a 200-day moving average price of $64.96. The firm has a market capitalization of $3.85 billion, a PE ratio of 9.63 and a beta of 0.88. 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 Co. has a 12-month low of $51.80 and a 12-month high of $76.91.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $1.85 earnings per share for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.70 per share. This is an increase from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.52%. International Bancshares’s dividend payout ratio (DPR) is 21.31%.

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.