Cresta Advisors Ltd. Cuts Position in International Bancshares Corporation $IBOC

Cresta Advisors Ltd. lessened its stake in International Bancshares Corporation (NASDAQ:IBOC) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,501 shares of the bank’s stock after selling 1,261 shares during the quarter. International Bancshares accounts for 2.0% of Cresta Advisors Ltd.’s investment portfolio, making the stock its 14th largest position. Cresta Advisors Ltd. owned approximately 0.10% of International Bancshares worth $4,094,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of International Bancshares in the 1st quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of International Bancshares by 67.3% in the 2nd quarter. UMB Bank n.a. now owns 629 shares of the bank’s stock valued at $42,000 after purchasing an additional 253 shares in the last quarter. CENTRAL TRUST Co purchased a new position in shares of International Bancshares in the 1st quarter valued at about $63,000. GAMMA Investing LLC increased its holdings in International Bancshares by 183.1% during the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank’s stock valued at $71,000 after acquiring an additional 727 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in International Bancshares by 8.9% during the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank’s stock valued at $171,000 after acquiring an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Performance

NASDAQ:IBOC opened at $69.28 on Friday. The company has a market capitalization of $4.31 billion, a P/E ratio of 10.47 and a beta of 0.87. International Bancshares Corporation has a twelve month low of $54.11 and a twelve month high of $76.91. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $70.01 and a two-hundred day moving average price of $65.68.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings results on Thursday, August 7th. The bank reported $1.61 EPS for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

International Bancshares Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.70 dividend. This is a boost from International Bancshares’s previous semi-annual dividend of $0.66. This represents a yield of 200.0%. The ex-dividend date of this dividend was Friday, August 15th. International Bancshares’s dividend payout ratio is currently 21.15%.

About International Bancshares

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.