International Bancshares (NASDAQ:IBOC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of International Bancshares (NASDAQ:IBOC – Get Rating) in a report published on Thursday. The firm issued a hold rating on the bank’s stock.

International Bancshares Price Performance

NASDAQ IBOC traded down $2.34 on Thursday, reaching $42.82. The company had a trading volume of 1,478,735 shares, compared to its average volume of 342,070. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.66 billion, a PE ratio of 8.94 and a beta of 1.00. The firm’s 50 day moving average price is $46.00 and its 200 day moving average price is $46.41. International Bancshares has a 12 month low of $38.00 and a 12 month high of $53.71.

International Bancshares Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were issued a $0.63 dividend. This is an increase from International Bancshares’s previous Semi-Annual dividend of $0.60. This represents a yield of 2.5%. The ex-dividend date was Tuesday, February 14th. International Bancshares’s payout ratio is currently 26.30%.

Institutional Trading of International Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of IBOC. Norges Bank bought a new stake in International Bancshares in the 4th quarter valued at $25,038,000. Deutsche Bank AG grew its stake in shares of International Bancshares by 1,637.6% in the 2nd quarter. Deutsche Bank AG now owns 557,461 shares of the bank’s stock worth $22,343,000 after buying an additional 525,379 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of International Bancshares in the 4th quarter worth $22,987,000. North Reef Capital Management LP purchased a new position in shares of International Bancshares in the 3rd quarter worth $14,954,000. Finally, Wellington Management Group LLP grew its stake in shares of International Bancshares by 9.4% in the 1st quarter. Wellington Management Group LLP now owns 3,303,161 shares of the bank’s stock worth $139,427,000 after buying an additional 284,432 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors.

International Bancshares Company Profile

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International Bancshares Corp. is a financial holding company, which provides banking services for commercial, consumer, and international customers of South, Central, and Southeast Texas and the State of Oklahoma. It engages in the business of banking, including the acceptance of checking and savings deposits and the making of commercial, real estate, personal, home improvement, automobile and other installment and term loans.