Mirae Asset Global Investments Co. Ltd. Has $1.75 Million Stake in International Bancshares Co. (NASDAQ:IBOC)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in International Bancshares Co. (NASDAQ:IBOC) by 10.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,148 shares of the bank’s stock after acquiring an additional 3,110 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Bancshares were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in International Bancshares by 1.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,365 shares of the bank’s stock worth $1,359,000 after purchasing an additional 305 shares in the last quarter. Yousif Capital Management LLC raised its stake in International Bancshares by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 28,422 shares of the bank’s stock worth $1,200,000 after purchasing an additional 465 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in International Bancshares by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,955 shares of the bank’s stock worth $2,103,000 after purchasing an additional 551 shares in the last quarter. Alps Advisors Inc. raised its stake in International Bancshares by 8.3% in the 3rd quarter. Alps Advisors Inc. now owns 7,635 shares of the bank’s stock worth $331,000 after purchasing an additional 585 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in International Bancshares by 3.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,660 shares of the bank’s stock worth $825,000 after purchasing an additional 589 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analysts Set New Price Targets

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

International Bancshares Price Performance

Shares of NASDAQ:IBOC opened at $54.42 on Friday. The firm has a 50 day moving average of $53.50 and a 200-day moving average of $50.35. The stock has a market capitalization of $3.38 billion, a PE ratio of 8.22 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 12 month low of $39.10 and a 12 month high of $56.53.

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

International Bancshares Increases Dividend

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

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the business’s 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 completion of the transaction, the director now directly owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.45% of the company’s stock.

International Bancshares 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.