Quantbot Technologies LP Invests $1.12 Million in International Bancshares Corporation $IBOC

Quantbot Technologies LP purchased a new stake in International Bancshares Corporation (NASDAQ:IBOC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,783 shares of the bank’s stock, valued at approximately $1,123,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in International Bancshares by 4,020.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after buying an additional 402 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of International Bancshares by 82.0% in the 4th quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after acquiring an additional 232 shares during the last quarter. Allworth Financial LP purchased a new position in shares of International Bancshares during the 2nd quarter worth $42,000. Finally, Versant Capital Management Inc raised its holdings in shares of International Bancshares by 35.8% during the 2nd quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock worth $45,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares Price Performance

NASDAQ:IBOC opened at $70.81 on Wednesday. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.40 billion, a P/E ratio of 10.68 and a beta of 0.69. The stock’s fifty day moving average is $75.01 and its two-hundred day moving average is $72.29.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). The business had revenue of $214.82 million for the quarter, compared to analysts’ expectations of $264.13 million. International Bancshares had a return on equity of 12.67% and a net margin of 38.83%.

International Bancshares Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a yield of 199.0%. International Bancshares’s dividend payout ratio is presently 22.02%.

International Bancshares 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.