Commonwealth Equity Services LLC Cuts Stake in International Bancshares Co. (NASDAQ:IBOC)

Commonwealth Equity Services LLC lowered its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,614 shares of the bank’s stock after selling 5,108 shares during the period. Commonwealth Equity Services LLC’s holdings in International Bancshares were worth $1,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBOC. TFO Wealth Partners LLC raised its holdings in shares of International Bancshares by 13,325.0% in the fourth quarter. TFO Wealth Partners LLC now owns 537 shares of the bank’s stock worth $29,000 after buying an additional 533 shares during the period. Blue Trust Inc. increased its stake in International Bancshares by 141.0% in the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after purchasing an additional 306 shares during the period. LRI Investments LLC bought a new stake in shares of International Bancshares during the first quarter worth $117,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of International Bancshares during the first quarter valued at $151,000. Finally, Covestor Ltd grew its holdings in shares of International Bancshares by 14.4% in the first quarter. Covestor Ltd now owns 3,369 shares of the bank’s stock worth $189,000 after purchasing an additional 424 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Up 1.7 %

Shares of IBOC opened at $60.94 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 9.30 and a beta of 0.88. The company has a 50-day moving average of $61.89 and a 200 day moving average of $57.95. International Bancshares Co. has a 1-year low of $41.96 and a 1-year high of $69.87.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, August 1st. The bank reported $1.56 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 39.64% and a return on equity of 16.66%. The company had revenue of $207.75 million for the quarter.

International Bancshares Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.66 per share. The ex-dividend date was Wednesday, August 14th. This represents a yield of 2.3%. International Bancshares’s dividend payout ratio (DPR) is 20.15%.

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.