International Bancshares Corporation $IBOC Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,404 shares of the bank’s stock after selling 25,607 shares during the quarter. Rhumbline Advisers owned 0.30% of International Bancshares worth $12,678,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in International Bancshares by 19.3% during the second quarter. American Century Companies Inc. now owns 2,885,687 shares of the bank’s stock worth $192,071,000 after purchasing an additional 466,929 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of International Bancshares by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,192,298 shares of the bank’s stock worth $145,919,000 after buying an additional 50,339 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of International Bancshares by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,414,229 shares of the bank’s stock worth $94,142,000 after buying an additional 13,936 shares during the last quarter. First Trust Advisors LP boosted its position in shares of International Bancshares by 1.7% in the 2nd quarter. First Trust Advisors LP now owns 1,251,947 shares of the bank’s stock worth $83,330,000 after buying an additional 21,250 shares in the last quarter. Finally, Azora Capital LP grew its stake in International Bancshares by 15.1% in the 2nd quarter. Azora Capital LP now owns 1,090,166 shares of the bank’s stock valued at $72,561,000 after acquiring an additional 142,937 shares during the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBOC shares. Loop Capital set a $85.00 target price on shares of International Bancshares in a research report on Wednesday, December 31st. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, International Bancshares presently has an average rating of “Buy” and an average target price of $85.00.

International Bancshares Price Performance

NASDAQ:IBOC opened at $71.74 on Friday. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $75.44. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 10.61 and a beta of 0.73. The company’s 50-day moving average is $70.29 and its two-hundred day moving average is $69.12. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04.

International Bancshares Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date is Friday, February 13th. International Bancshares’s dividend payout ratio is currently 21.60%.

International Bancshares Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.