American Century Companies Inc. Acquires 204,536 Shares of International Bancshares Corporation $IBOC

American Century Companies Inc. lifted its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,090,223 shares of the bank’s stock after purchasing an additional 204,536 shares during the period. American Century Companies Inc. owned about 4.97% of International Bancshares worth $212,453,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its position in International Bancshares by 554.4% during the third quarter. Rothschild Investment LLC now owns 589 shares of the bank’s stock valued at $40,000 after buying an additional 499 shares during the period. CWM LLC boosted its holdings in International Bancshares by 46.1% during the 2nd quarter. CWM LLC now owns 1,229 shares of the bank’s stock valued at $82,000 after acquiring an additional 388 shares during the period. Covestor Ltd boosted its holdings in International Bancshares by 19.9% during the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock valued at $82,000 after acquiring an additional 199 shares during the period. Raymond James Financial Inc. bought a new position in International Bancshares during the 2nd quarter worth approximately $127,000. Finally, EverSource Wealth Advisors LLC lifted its position in International Bancshares by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock valued at $156,000 after purchasing an additional 341 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of IBOC stock opened at $67.11 on Friday. The business’s fifty day moving average is $70.02 and its 200 day moving average is $69.12. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 10.14 and a beta of 0.73. International Bancshares Corporation has a twelve month low of $54.11 and a twelve month high of $75.44.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, February 26th. The bank reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.08. The firm had revenue of $217.71 million for the quarter. International Bancshares had a net margin of 39.04% and a return on equity of 13.68%.

International Bancshares Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.73 dividend. This represents a yield of 203.0%. The ex-dividend date was Friday, February 13th. International Bancshares’s dividend payout ratio is 21.60%.

Wall Street Analyst Weigh In

IBOC has been the topic of several recent analyst reports. Loop Capital set a $85.00 target price on shares of International Bancshares in a report on Wednesday, December 31st. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, International Bancshares presently has a consensus rating of “Buy” and a consensus price target of $85.00.

International Bancshares Company Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.