International Bancshares Co. (NASDAQ:IBOC) Position Cut by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in International Bancshares Co. (NASDAQ:IBOC) by 16.7% during the 2nd quarter, Holdings Channel reports. The fund owned 8,050 shares of the bank’s stock after selling 1,613 shares during the quarter. Pacer Advisors Inc.’s holdings in International Bancshares were worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. State of Michigan Retirement System boosted its holdings in shares of International Bancshares by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,112 shares of the bank’s stock valued at $736,000 after acquiring an additional 300 shares in the last quarter. Blue Trust Inc. increased its position in shares of International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares during the period. Arizona State Retirement System raised its stake in shares of International Bancshares by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 15,663 shares of the bank’s stock worth $896,000 after buying an additional 313 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of International Bancshares by 3.4% in the second quarter. Natixis Advisors LLC now owns 10,509 shares of the bank’s stock valued at $601,000 after buying an additional 341 shares during the period. Finally, Covestor Ltd boosted its stake in International Bancshares by 14.4% during the first quarter. Covestor Ltd now owns 3,369 shares of the bank’s stock valued at $189,000 after buying an additional 424 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Price Performance

Shares of International Bancshares stock opened at $59.51 on Monday. International Bancshares Co. has a 52 week low of $42.25 and a 52 week high of $69.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.70 billion, a PE ratio of 9.09 and a beta of 0.88. The company’s 50-day moving average price is $61.74 and its two-hundred day moving average price is $58.45.

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

International Bancshares Dividend Announcement

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