Allianz Asset Management GmbH Reduces Stock Holdings in International Bancshares Corporation (NASDAQ:IBOC)

Allianz Asset Management GmbH reduced its position in International Bancshares Corporation (NASDAQ:IBOC) by 18.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,200 shares of the bank’s stock after selling 1,600 shares during the quarter. Allianz Asset Management GmbH’s holdings in International Bancshares were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in IBOC. Norges Bank bought a new stake in International Bancshares during the fourth quarter valued at $39,913,000. Millennium Management LLC raised its holdings in shares of International Bancshares by 1,883.6% in the 4th quarter. Millennium Management LLC now owns 346,185 shares of the bank’s stock valued at $21,865,000 after acquiring an additional 328,733 shares in the last quarter. First Trust Advisors LP boosted its position in shares of International Bancshares by 21.3% during the 4th quarter. First Trust Advisors LP now owns 1,450,040 shares of the bank’s stock valued at $91,585,000 after acquiring an additional 255,070 shares during the last quarter. Jacobs Asset Management LLC purchased a new position in shares of International Bancshares during the fourth quarter worth about $7,579,000. Finally, Reinhart Partners LLC. grew its holdings in shares of International Bancshares by 13.2% during the first quarter. Reinhart Partners LLC. now owns 777,713 shares of the bank’s stock worth $49,043,000 after purchasing an additional 90,553 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Stock Down 1.1%

IBOC opened at $67.44 on Friday. The business’s fifty day simple moving average is $66.62 and its 200 day simple moving average is $64.39. International Bancshares Corporation has a 52 week low of $54.11 and a 52 week high of $76.91. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.19 billion, a PE ratio of 10.26 and a beta of 0.85.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Monday, May 5th. The bank reported $1.56 earnings per share for the quarter. The firm had revenue of $198.22 million during the quarter. International Bancshares had a return on equity of 14.84% and a net margin of 39.30%.

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.