Louisiana State Employees Retirement System Buys Shares of 15,000 International Bancshares Co. (NASDAQ:IBOC)

Louisiana State Employees Retirement System bought a new stake in shares of International Bancshares Co. (NASDAQ:IBOC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the bank’s stock, valued at approximately $815,000.

Several other large investors have also modified their holdings of IBOC. SG Americas Securities LLC purchased a new position in shares of International Bancshares during the third quarter valued at approximately $995,000. Reinhart Partners LLC. raised its stake in shares of International Bancshares by 6.3% during the third quarter. Reinhart Partners LLC. now owns 563,658 shares of the bank’s stock valued at $24,429,000 after acquiring an additional 33,412 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of International Bancshares by 22.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,177 shares of the bank’s stock valued at $398,000 after acquiring an additional 1,654 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of International Bancshares by 6.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,038 shares of the bank’s stock valued at $1,259,000 after acquiring an additional 1,644 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of International Bancshares by 37.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after acquiring an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

Insider Buying and Selling at International Bancshares

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the transaction, the director now directly owns 1,312,245 shares of the company’s stock, valued at $71,149,923.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 14.45% of the stock is owned by insiders.

International Bancshares Trading Up 0.3 %

Shares of NASDAQ:IBOC opened at $56.15 on Friday. The company has a market capitalization of $3.49 billion, a PE ratio of 8.48 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 12-month low of $39.10 and a 12-month high of $56.80. The business’s fifty day simple moving average is $53.81 and its 200-day simple moving average is $50.74.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. The company had revenue of $211.03 million for the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%.

International Bancshares Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were given a dividend of $0.66 per share. This is a boost from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date was Wednesday, February 14th. This represents a yield of 2.5%. International Bancshares’s dividend payout ratio is presently 19.94%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th.

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.