California Public Employees Retirement System boosted its position in shares of International Bancshares Corp (NASDAQ:IBOC) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,764 shares of the bank’s stock after acquiring an additional 8,431 shares during the quarter. California Public Employees Retirement System owned 0.24% of International Bancshares worth $6,795,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBOC. BlackRock Inc. raised its position in International Bancshares by 1.4% during the first quarter. BlackRock Inc. now owns 5,960,468 shares of the bank’s stock worth $231,861,000 after acquiring an additional 81,888 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of International Bancshares by 181.8% in the first quarter. New York State Common Retirement Fund now owns 167,100 shares of the bank’s stock valued at $6,500,000 after purchasing an additional 107,800 shares during the period. PNC Financial Services Group Inc. raised its position in shares of International Bancshares by 142.9% in the first quarter. PNC Financial Services Group Inc. now owns 69,871 shares of the bank’s stock valued at $2,717,000 after purchasing an additional 41,108 shares during the period. Principal Financial Group Inc. raised its position in shares of International Bancshares by 2.6% in the first quarter. Principal Financial Group Inc. now owns 238,056 shares of the bank’s stock valued at $9,260,000 after purchasing an additional 6,080 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of International Bancshares by 56.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,090 shares of the bank’s stock valued at $431,000 after purchasing an additional 3,994 shares during the period. 58.00% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Antonio R. Sanchez, Jr. sold 200,000 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $46.78, for a total value of $9,356,000.00. Following the transaction, the director now directly owns 1,865,131 shares of the company’s stock, valued at $87,250,828.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.12% of the stock is owned by corporate insiders.
Separately, BidaskClub raised shares of International Bancshares from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th.
Shares of IBOC opened at $40.48 on Friday. The stock has a market capitalization of $2.98 billion, a PE ratio of 15.73 and a beta of 1.46. International Bancshares Corp has a fifty-two week low of $36.65 and a fifty-two week high of $47.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.74.
International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Tuesday, August 7th. The bank reported $0.79 earnings per share for the quarter. The company had revenue of $144.58 million for the quarter. International Bancshares had a net margin of 31.78% and a return on equity of 10.38%.
The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, October 16th. Stockholders of record on Tuesday, October 9th will be given a $0.42 dividend. The ex-dividend date is Friday, October 5th. This is a positive change from International Bancshares’s previous semiannual dividend of $0.33. This represents a dividend yield of 1.87%.
International Bancshares Profile
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.
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