Dennis E. Nixon Sells 34,815 Shares of International Bancshares Co. (NASDAQ:IBOC) Stock

International Bancshares Co. (NASDAQ:IBOC) CEO Dennis E. Nixon sold 34,815 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the completion of the sale, the chief executive officer now directly owns 965,185 shares of the company’s stock, valued at approximately $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

International Bancshares Price Performance

Shares of NASDAQ:IBOC opened at $70.89 on Friday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 11.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. International Bancshares Co. has a 12 month low of $44.24 and a 12 month high of $73.82. The stock’s 50 day moving average price is $62.58 and its 200 day moving average price is $60.54.

Institutional Trading of International Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of IBOC. Jupiter Asset Management Ltd. grew its holdings in International Bancshares by 28.2% during the first quarter. Jupiter Asset Management Ltd. now owns 127,782 shares of the bank’s stock worth $7,174,000 after acquiring an additional 28,070 shares during the period. Janus Henderson Group PLC raised its holdings in shares of International Bancshares by 73.1% in the 1st quarter. Janus Henderson Group PLC now owns 44,406 shares of the bank’s stock worth $2,491,000 after purchasing an additional 18,749 shares in the last quarter. Vident Advisory LLC acquired a new stake in International Bancshares during the first quarter valued at approximately $3,120,000. Strategic Financial Concepts LLC bought a new stake in International Bancshares during the second quarter worth approximately $39,000. Finally, Intech Investment Management LLC acquired a new position in International Bancshares in the second quarter worth approximately $756,000. Institutional investors own 65.91% of the company’s stock.

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.