Arizona State Retirement System Cuts Stake in International Bancshares Co. (NASDAQ:IBOC)

Arizona State Retirement System reduced its holdings in shares of International Bancshares Co. (NASDAQ:IBOC) by 1.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,611 shares of the bank’s stock after selling 306 shares during the period. Arizona State Retirement System’s holdings in International Bancshares were worth $848,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in International Bancshares by 40.7% during the 1st quarter. MetLife Investment Management LLC now owns 63,070 shares of the bank’s stock worth $2,662,000 after acquiring an additional 18,235 shares in the last quarter. Rhumbline Advisers grew its holdings in International Bancshares by 4.6% during the 1st quarter. Rhumbline Advisers now owns 181,576 shares of the bank’s stock worth $7,664,000 after acquiring an additional 7,989 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in International Bancshares by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,508 shares of the bank’s stock worth $823,000 after acquiring an additional 1,860 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in International Bancshares by 11.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,506 shares of the bank’s stock worth $1,364,000 after acquiring an additional 3,132 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in International Bancshares by 1.7% during the 1st quarter. Yousif Capital Management LLC now owns 28,422 shares of the bank’s stock worth $1,200,000 after acquiring an additional 465 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of International Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 4th.

International Bancshares Trading Down 0.6 %

NASDAQ IBOC opened at $52.18 on Thursday. The firm has a 50 day moving average of $53.50 and a two-hundred day moving average of $50.19. International Bancshares Co. has a 52 week low of $39.10 and a 52 week high of $56.53. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.24 billion, a PE ratio of 7.88 and a beta of 0.94.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Monday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%. The business had revenue of $211.03 million during the quarter.

International Bancshares Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were issued a $0.66 dividend. This is a boost from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date was Wednesday, February 14th. This represents a dividend yield of 2.5%. International Bancshares’s dividend payout ratio is presently 19.94%.

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 14.45% of the company’s stock.

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.