International Bancshares Co. (NASDAQ:IBOC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in International Bancshares Co. (NASDAQ:IBOC) by 16.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,002 shares of the bank’s stock after selling 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in International Bancshares were worth $706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IBOC. Strs Ohio increased its stake in shares of International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock worth $70,000 after buying an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of International Bancshares by 37.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after purchasing an additional 711 shares in the last quarter. Covestor Ltd grew its stake in shares of International Bancshares by 69.9% during the third quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock worth $118,000 after purchasing an additional 1,118 shares in the last quarter. Vest Financial LLC purchased a new position in International Bancshares in the fourth quarter valued at $254,000. Finally, Westover Capital Advisors LLC raised its stake in International Bancshares by 25.5% in the third quarter. Westover Capital Advisors LLC now owns 6,316 shares of the bank’s stock valued at $274,000 after buying an additional 1,283 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

International Bancshares Stock Performance

Shares of International Bancshares stock opened at $56.46 on Tuesday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 8.53 and a beta of 0.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 52 week low of $39.10 and a 52 week high of $56.81. The firm’s 50 day moving average is $53.90 and its two-hundred day moving average is $50.94.

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

International Bancshares Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were given a $0.66 dividend. The ex-dividend date 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 dividend payout ratio is 19.94%.

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.