KLP Kapitalforvaltning AS Boosts Stake in International Bancshares Corporation $IBOC

KLP Kapitalforvaltning AS lifted its stake in International Bancshares Corporation (NASDAQ:IBOC) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,700 shares of the bank’s stock after purchasing an additional 300 shares during the period. KLP Kapitalforvaltning AS’s holdings in International Bancshares were worth $779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System grew its position in International Bancshares by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the bank’s stock worth $946,000 after acquiring an additional 200 shares in the last quarter. Bessemer Group Inc. grew its position in International Bancshares by 8.9% in the first quarter. Bessemer Group Inc. now owns 2,712 shares of the bank’s stock worth $171,000 after acquiring an additional 222 shares in the last quarter. Diversified Trust Co grew its position in International Bancshares by 1.2% in the second quarter. Diversified Trust Co now owns 20,152 shares of the bank’s stock worth $1,341,000 after acquiring an additional 240 shares in the last quarter. UMB Bank n.a. grew its position in International Bancshares by 67.3% in the second quarter. UMB Bank n.a. now owns 629 shares of the bank’s stock worth $42,000 after acquiring an additional 253 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in International Bancshares by 9.2% in the first quarter. Cetera Investment Advisers now owns 3,665 shares of the bank’s stock worth $231,000 after acquiring an additional 308 shares in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Price Performance

NASDAQ IBOC opened at $64.75 on Friday. The firm’s fifty day simple moving average is $69.64 and its two-hundred day simple moving average is $66.19. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91. The firm has a market capitalization of $4.02 billion, a P/E ratio of 9.78 and a beta of 0.80.

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

International Bancshares Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.70 dividend. This represents a dividend yield of 200.0%. This is an increase from International Bancshares’s previous semi-annual dividend of $0.66. The ex-dividend date was Friday, August 15th. International Bancshares’s payout ratio is currently 21.15%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

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.