Polaris Capital Management LLC Has $29.77 Million Holdings in International Bancshares Corporation (IBOC)
Polaris Capital Management LLC boosted its holdings in shares of International Bancshares Corporation (NASDAQ:IBOC) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 849,405 shares of the bank’s stock after purchasing an additional 13,600 shares during the period. International Bancshares Corporation comprises 1.8% of Polaris Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Polaris Capital Management LLC owned about 1.29% of International Bancshares Corporation worth $29,772,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in IBOC. Dimensional Fund Advisors LP lifted its stake in International Bancshares Corporation by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,489,486 shares of the bank’s stock worth $157,358,000 after purchasing an additional 131,467 shares during the period. Context BH Capital Management LP lifted its stake in International Bancshares Corporation by 26.4% during the second quarter. Context BH Capital Management LP now owns 274,702 shares of the bank’s stock worth $9,628,000 after purchasing an additional 57,452 shares during the period. Prudential Financial Inc. lifted its stake in International Bancshares Corporation by 6.7% during the second quarter. Prudential Financial Inc. now owns 812,894 shares of the bank’s stock worth $28,492,000 after purchasing an additional 51,290 shares during the period. State Street Corp lifted its stake in International Bancshares Corporation by 2.1% during the second quarter. State Street Corp now owns 2,216,366 shares of the bank’s stock worth $77,684,000 after purchasing an additional 45,743 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in International Bancshares Corporation by 19.3% during the second quarter. Goldman Sachs Group Inc. now owns 247,921 shares of the bank’s stock worth $8,690,000 after purchasing an additional 40,063 shares during the period. Hedge funds and other institutional investors own 55.59% of the company’s stock.
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In other news, Director Antonio R. Sanchez, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $36.52, for a total transaction of $547,800.00. Following the completion of the sale, the director now owns 1,672,890 shares of the company’s stock, valued at approximately $61,093,942.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $36.26, for a total transaction of $1,813,000.00. Following the sale, the director now directly owns 1,672,890 shares of the company’s stock, valued at approximately $60,658,991.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,500 shares of company stock valued at $3,177,275. 17.93% of the stock is currently owned by insiders.
International Bancshares Corporation (IBOC) traded down 0.179% on Thursday, hitting $41.925. 79,143 shares of the stock were exchanged. The company has a market capitalization of $2.77 billion, a PE ratio of 19.410 and a beta of 1.54. International Bancshares Corporation has a 1-year low of $29.31 and a 1-year high of $42.35. The company has a 50-day moving average price of $38.03 and a 200 day moving average price of $36.00.
International Bancshares Corporation (NASDAQ:IBOC) last issued its quarterly earnings results on Monday, August 7th. The bank reported $0.61 earnings per share for the quarter. International Bancshares Corporation had a net margin of 26.21% and a return on equity of 8.20%. Analysts anticipate that International Bancshares Corporation will post $1.59 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.33 per share. This represents a dividend yield of 1.74%. The ex-dividend date is Thursday, September 28th. International Bancshares Corporation’s dividend payout ratio (DPR) is presently 9.03%.
Separately, BidaskClub cut shares of International Bancshares Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th.
About International Bancshares Corporation
International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged 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.
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