Swiss National Bank Reduces Stake in International Bancshares Co. (NASDAQ:IBOC)

Swiss National Bank decreased its holdings in shares of International Bancshares Co. (NASDAQ:IBOC) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,300 shares of the bank’s stock after selling 700 shares during the quarter. Swiss National Bank owned approximately 0.18% of International Bancshares worth $6,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its stake in International Bancshares by 4.4% in the third quarter. Thrivent Financial for Lutherans now owns 13,595 shares of the bank’s stock valued at $813,000 after acquiring an additional 575 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of International Bancshares in the 3rd quarter valued at about $202,000. Versor Investments LP purchased a new position in International Bancshares during the 3rd quarter worth approximately $222,000. Harbor Capital Advisors Inc. increased its position in International Bancshares by 99.5% during the third quarter. Harbor Capital Advisors Inc. now owns 55,294 shares of the bank’s stock worth $3,306,000 after buying an additional 27,573 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in International Bancshares by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 6,188 shares of the bank’s stock valued at $369,000 after buying an additional 420 shares during the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Stock Performance

Shares of IBOC opened at $73.88 on Wednesday. The company’s 50 day simple moving average is $64.17 and its 200-day simple moving average is $61.22. The firm has a market cap of $4.60 billion, a PE ratio of 11.68 and a beta of 0.87. International Bancshares Co. has a 12-month low of $44.24 and a 12-month high of $76.91. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other International Bancshares news, CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.93% of the stock is currently owned by insiders.

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.