International Bancshares Corporation (NASDAQ:IBOC) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 964,887 shares, a growth of 32.7% from the August 15th total of 726,958 shares. Based on an average daily volume of 111,867 shares, the days-to-cover ratio is currently 8.6 days. Currently, 1.8% of the company’s stock are short sold.

In other news, Director Antonio R. Sanchez, Jr. sold 20,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $36.24, for a total transaction of $724,800.00. Following the sale, the director now owns 1,672,890 shares of the company’s stock, valued at $60,625,533.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonio R. Sanchez, Jr. sold 15,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $36.52, for a total transaction of $547,800.00. Following the sale, the director now directly owns 1,672,890 shares in the company, valued at approximately $61,093,942.80. The disclosure for this sale can be found here. Insiders have sold 85,000 shares of company stock worth $3,085,600 in the last three months. Corporate insiders own 17.93% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in International Bancshares Corporation by 0.9% during the 2nd quarter. Amalgamated Bank now owns 7,811 shares of the bank’s stock worth $274,000 after acquiring an additional 72 shares in the last quarter. Suntrust Banks Inc. lifted its position in International Bancshares Corporation by 0.7% during the 2nd quarter. Suntrust Banks Inc. now owns 9,879 shares of the bank’s stock worth $346,000 after acquiring an additional 72 shares in the last quarter. Arizona State Retirement System lifted its position in International Bancshares Corporation by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 24,500 shares of the bank’s stock worth $859,000 after acquiring an additional 300 shares in the last quarter. Comerica Bank lifted its position in International Bancshares Corporation by 0.9% during the 2nd quarter. Comerica Bank now owns 44,961 shares of the bank’s stock worth $1,601,000 after acquiring an additional 389 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in International Bancshares Corporation by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 42,439 shares of the bank’s stock worth $1,487,000 after acquiring an additional 395 shares in the last quarter. 55.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Bancshares Corporation (IBOC) opened at 36.80 on Friday. The company’s 50 day moving average is $35.72 and its 200-day moving average is $35.62. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.04 and a beta of 1.53. International Bancshares Corporation has a 1-year low of $28.47 and a 1-year high of $42.25.

International Bancshares Corporation (NASDAQ:IBOC) last released its quarterly earnings results on Monday, August 7th. The bank reported $0.61 EPS for the quarter. International Bancshares Corporation had a return on equity of 8.20% and a net margin of 26.21%. Equities analysts anticipate that International Bancshares Corporation will post $1.59 earnings per share for the current fiscal year.

Separately, BidaskClub upgraded shares of International Bancshares Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th.

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International Bancshares Corporation Company Profile

International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.

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