Quantbot Technologies LP Invests $1.12 Million in International Bancshares Corporation $IBOC

Quantbot Technologies LP purchased a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 14,783 shares of the bank’s stock, valued at approximately $1,123,000.

Other institutional investors have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after acquiring an additional 402 shares during the period. Hantz Financial Services Inc. grew its position in International Bancshares by 82.5% in the 4th quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after acquiring an additional 221 shares in the last quarter. Quadrant Capital Group LLC increased its stake in International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after purchasing an additional 232 shares during the period. Allworth Financial LP purchased a new stake in International Bancshares during the second quarter worth about $42,000. Finally, Versant Capital Management Inc lifted its position 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 in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Trading Down 1.0%

IBOC opened at $70.81 on Wednesday. The business has a fifty day moving average price of $75.01 and a 200 day moving average price of $72.29. 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 Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.68 and a beta of 0.69.

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

International Bancshares Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.73 per share. This represents a dividend yield of 199.0%. The ex-dividend date is Friday, August 14th. International Bancshares’s dividend payout ratio is presently 22.02%.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $85.00.

About International Bancshares

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.