International Bancshares Co. (NASDAQ:IBOC) Shares Purchased by Quest Partners LLC

Quest Partners LLC raised its position in International Bancshares Co. (NASDAQ:IBOC) by 18.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,421 shares of the bank’s stock after purchasing an additional 2,127 shares during the period. Quest Partners LLC’s holdings in International Bancshares were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IBOC. Vanguard Group Inc. raised its position in shares of International Bancshares by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock worth $366,673,000 after purchasing an additional 152,165 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of International Bancshares by 1.3% in the second quarter. Boston Trust Walden Corp now owns 1,476,460 shares of the bank’s stock valued at $84,468,000 after acquiring an additional 18,362 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of International Bancshares by 21.6% during the second quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock valued at $56,817,000 after acquiring an additional 176,334 shares during the last quarter. Bank of New York Mellon Corp increased its position in International Bancshares by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 716,499 shares of the bank’s stock worth $40,991,000 after purchasing an additional 18,852 shares in the last quarter. Finally, Reinhart Partners LLC. raised its stake in International Bancshares by 5.6% in the 3rd quarter. Reinhart Partners LLC. now owns 682,144 shares of the bank’s stock valued at $40,785,000 after purchasing an additional 36,284 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Insider Buying and Selling

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 965,185 shares in the company, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.93% of the stock is owned by company insiders.

International Bancshares Price Performance

International Bancshares stock opened at $71.66 on Friday. The firm’s 50-day moving average is $63.42 and its two-hundred day moving average is $60.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $4.46 billion, a P/E ratio of 10.87 and a beta of 0.87. International Bancshares Co. has a 12-month low of $44.24 and a 12-month high of $73.82.

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.