Parallel Advisors LLC Trims Stake in International Bancshares Co. (NASDAQ:IBOC)

Parallel Advisors LLC trimmed its stake in International Bancshares Co. (NASDAQ:IBOCFree Report) by 16.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,573 shares of the bank’s stock after selling 491 shares during the period. Parallel Advisors LLC’s holdings in International Bancshares were worth $140,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in International Bancshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 66,842 shares of the bank’s stock worth $3,631,000 after buying an additional 213 shares in the last quarter. Alps Advisors Inc. increased 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 buying an additional 585 shares in the last quarter. Cresta Advisors Ltd. increased its stake in International Bancshares by 1.8% in the 4th quarter. Cresta Advisors Ltd. now owns 50,468 shares of the bank’s stock worth $2,741,000 after buying an additional 890 shares in the last quarter. Strs Ohio increased its stake in International Bancshares by 333.3% in the 4th quarter. Strs Ohio now owns 1,300 shares of the bank’s stock worth $70,000 after buying an additional 1,000 shares in the last quarter. Finally, Diversified Trust Co increased its stake in International Bancshares by 7.7% in the 4th quarter. Diversified Trust Co now owns 14,973 shares of the bank’s stock worth $813,000 after buying an additional 1,065 shares in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Trading Down 1.9 %

Shares of International Bancshares stock opened at $55.26 on Wednesday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 8.44 and a beta of 0.89. The business has a 50-day moving average price of $56.73 and a 200-day moving average price of $53.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a twelve month low of $41.96 and a twelve month high of $61.46.

International Bancshares (NASDAQ:IBOCGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The bank reported $1.56 earnings per share for the quarter. The firm had revenue of $205.85 million during the quarter. International Bancshares had a return on equity of 17.50% and a net margin of 40.92%.

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total transaction of $1,799,192.00. Following the completion of the transaction, the director now owns 1,282,133 shares in the company, valued at $76,607,446.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total value of $1,799,192.00. Following the completion of the transaction, the director now owns 1,282,133 shares of the company’s stock, valued at approximately $76,607,446.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the transaction, the director now directly owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The disclosure for this sale can be found here. Company insiders own 13.93% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th.

Get Our Latest Stock Report on IBOC

International Bancshares Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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