Short Interest in International Bancshares Co. (NASDAQ:IBOC) Declines By 6.8%

International Bancshares Co. (NASDAQ:IBOC) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,100,000 shares, a drop of 6.8% from the August 15th total of 1,180,000 shares. Based on an average trading volume of 235,500 shares, the days-to-cover ratio is presently 4.7 days. Approximately 2.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IBOC. Algert Global LLC boosted its stake in shares of International Bancshares by 5.6% during the second quarter. Algert Global LLC now owns 106,994 shares of the bank’s stock valued at $6,121,000 after purchasing an additional 5,637 shares in the last quarter. AQR Capital Management LLC lifted its holdings in International Bancshares by 45.7% during the second quarter. AQR Capital Management LLC now owns 316,260 shares of the bank’s stock worth $17,983,000 after buying an additional 99,164 shares during the period. Profund Advisors LLC boosted its position in International Bancshares by 15.2% during the 2nd quarter. Profund Advisors LLC now owns 4,598 shares of the bank’s stock valued at $263,000 after acquiring an additional 606 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of International Bancshares in the 2nd quarter valued at $1,070,000. Finally, Intech Investment Management LLC bought a new position in shares of International Bancshares in the 2nd quarter worth $756,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Performance

International Bancshares stock opened at $63.66 on Friday. International Bancshares has a fifty-two week low of $41.96 and a fifty-two week high of $69.87. The company has a market capitalization of $3.96 billion, a PE ratio of 9.72 and a beta of 0.88. The company has a 50 day moving average price of $62.26 and a 200-day moving average price of $58.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71.

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

International Bancshares Announces Dividend

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

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.