Principal Financial Group Inc. trimmed its holdings in shares of International Bancshares Co. (NASDAQ:IBOC – Free Report) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 207,865 shares of the bank’s stock after selling 1,934 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of International Bancshares worth $9,188,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of International Bancshares by 42.8% during the 2nd quarter. Barclays PLC now owns 77,733 shares of the bank’s stock worth $3,437,000 after buying an additional 23,300 shares in the last quarter. Bank of Montreal Can bought a new position in shares of International Bancshares in the 2nd quarter worth $390,000. Reinhart Partners LLC. lifted its holdings in shares of International Bancshares by 44.1% in the 2nd quarter. Reinhart Partners LLC. now owns 530,246 shares of the bank’s stock worth $23,437,000 after purchasing an additional 162,159 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of International Bancshares in the 2nd quarter worth $201,000. Finally, Inspire Investing LLC lifted its holdings in shares of International Bancshares by 10.9% in the 2nd quarter. Inspire Investing LLC now owns 7,110 shares of the bank’s stock worth $314,000 after purchasing an additional 701 shares in the last quarter. 63.92% of the stock is currently owned by institutional investors.
Insider Activity at International Bancshares
In related news, Director Antonio R. Sanchez, Jr. sold 30,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $47.77, for a total value of $1,433,100.00. Following the completion of the sale, the director now directly owns 1,442,245 shares of the company’s stock, valued at approximately $68,896,043.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.45% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
International Bancshares Trading Down 1.4 %
NASDAQ IBOC opened at $46.25 on Tuesday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 7.01 and a beta of 0.95. The business has a fifty day simple moving average of $43.90 and a 200 day simple moving average of $44.95. International Bancshares Co. has a 12 month low of $39.10 and a 12 month high of $53.22. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.05.
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.
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