New York Life Investment Management LLC Has $438,000 Stake in International Bancshares Co. (NASDAQ:IBOC)

New York Life Investment Management LLC lowered its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,064 shares of the bank’s stock after selling 251 shares during the period. New York Life Investment Management LLC’s holdings in International Bancshares were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IBOC. Boston Trust Walden Corp boosted its stake in International Bancshares by 77.2% during the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after purchasing an additional 444,674 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of International Bancshares by 1,035.5% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank’s stock worth $4,407,000 after buying an additional 92,722 shares in the last quarter. American Century Companies Inc. lifted its position in shares of International Bancshares by 12.2% during the 3rd quarter. American Century Companies Inc. now owns 570,126 shares of the bank’s stock worth $24,709,000 after buying an additional 62,148 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of International Bancshares by 46.7% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 188,577 shares of the bank’s stock worth $8,173,000 after buying an additional 60,031 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its position in shares of International Bancshares by 10.3% during the 4th quarter. Reinhart Partners LLC. now owns 621,602 shares of the bank’s stock worth $33,765,000 after buying an additional 57,944 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Trading Down 0.5 %

NASDAQ:IBOC opened at $59.88 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.72 billion, a PE ratio of 9.14 and a beta of 0.92. The firm’s 50 day moving average is $55.25 and its 200 day moving average is $51.90. International Bancshares Co. has a 12 month low of $40.59 and a 12 month high of $60.99.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Monday, February 26th. The bank reported $1.71 EPS for the quarter. The company had revenue of $211.03 million for the quarter. International Bancshares had a net margin of 40.92% and a return on equity of 17.50%.

Insider Buying and Selling

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $54.22, for a total value of $2,168,800.00. Following the sale, the director now owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 14.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday.

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.