International Bancshares Corporation $IBOC Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 51.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 44,966 shares of the bank’s stock after selling 48,405 shares during the period. Squarepoint Ops LLC’s holdings in International Bancshares were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of International Bancshares by 35.8% during the second quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock worth $45,000 after purchasing an additional 157 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of International Bancshares by 2.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank’s stock valued at $511,000 after buying an additional 168 shares during the period. Cetera Investment Advisers grew its position in shares of International Bancshares by 5.3% during the 4th quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock valued at $242,000 after buying an additional 184 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of International Bancshares by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock valued at $1,223,000 after buying an additional 196 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in International Bancshares by 1.6% during the first quarter. State of Michigan Retirement System now owns 13,012 shares of the bank’s stock worth $876,000 after acquiring an additional 200 shares during the period. Institutional investors own 65.91% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $85.00.

International Bancshares Stock Performance

Shares of IBOC stock opened at $70.94 on Friday. International Bancshares Corporation has a 12-month low of $63.19 and a 12-month high of $78.46. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 10.70 and a beta of 0.67. The business has a 50 day simple moving average of $73.77 and a 200 day simple moving average of $72.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.07). The business had revenue of $214.82 million for the quarter, compared to the consensus estimate of $264.13 million. International Bancshares had a net margin of 38.83% and a return on equity of 12.67%.

International Bancshares Announces Dividend

The business also recently declared a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares’s dividend payout ratio (DPR) is 22.02%.

About International Bancshares

International Bancshares Corporation (NASDAQ: IBOC) is a financial holding company headquartered in Laredo, Texas. Through its principal subsidiary, IBC Bank, the company provides commercial and retail banking services to individuals, businesses and public-sector customers.

IBC Bank’s products and services include deposit accounts, commercial and consumer lending, residential and mortgage-related lending, cash-management services, treasury services, online and mobile banking, and trust and investment services.