Retirement Systems of Alabama Sells 1,022 Shares of International Bancshares Co. (NASDAQ:IBOC)

Retirement Systems of Alabama cut its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,998 shares of the bank’s stock after selling 1,022 shares during the period. Retirement Systems of Alabama owned 0.11% of International Bancshares worth $3,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TFO Wealth Partners LLC grew its holdings in shares of International Bancshares by 13,325.0% during the fourth quarter. TFO Wealth Partners LLC now owns 537 shares of the bank’s stock worth $29,000 after purchasing an additional 533 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of International Bancshares by 141.0% during the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after purchasing an additional 306 shares in the last quarter. Strs Ohio grew its holdings in shares of International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock worth $70,000 after purchasing an additional 1,000 shares in the last quarter. LRI Investments LLC purchased a new position in shares of International Bancshares during the first quarter worth about $117,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of International Bancshares during the first quarter worth about $151,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 11th.

International Bancshares Stock Down 0.6 %

Shares of IBOC opened at $61.89 on Wednesday. The firm has a market cap of $3.85 billion, a P/E ratio of 9.45 and a beta of 0.89. The stock has a 50 day simple moving average of $60.53 and a two-hundred day simple moving average of $57.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. 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. The business had revenue of $207.75 million during the quarter. International Bancshares had a return on equity of 17.01% and a net margin of 39.64%.

International Bancshares Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.66 dividend. This represents a yield of 2.3%. The ex-dividend date is Wednesday, August 14th. International Bancshares’s dividend payout ratio is currently 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.