Millennium Management LLC Reduces Position in International Bancshares Corp (IBOC)

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Millennium Management LLC reduced its stake in International Bancshares Corp (NASDAQ:IBOC) by 17.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,059,266 shares of the bank’s stock after selling 222,971 shares during the period. Millennium Management LLC owned approximately 1.60% of International Bancshares worth $45,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBOC. SG Americas Securities LLC raised its stake in International Bancshares by 41.0% in the first quarter. SG Americas Securities LLC now owns 13,701 shares of the bank’s stock valued at $533,000 after buying an additional 3,981 shares in the last quarter. Swiss National Bank grew its holdings in shares of International Bancshares by 2.2% during the first quarter. Swiss National Bank now owns 97,700 shares of the bank’s stock worth $3,801,000 after purchasing an additional 2,100 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of International Bancshares by 2.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 560,976 shares of the bank’s stock worth $21,822,000 after purchasing an additional 11,093 shares during the last quarter. Glen Harbor Capital Management LLC grew its holdings in shares of International Bancshares by 12.2% during the first quarter. Glen Harbor Capital Management LLC now owns 12,206 shares of the bank’s stock worth $475,000 after purchasing an additional 1,326 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of International Bancshares by 1.4% during the first quarter. BlackRock Inc. now owns 5,960,468 shares of the bank’s stock worth $231,861,000 after purchasing an additional 81,888 shares during the last quarter. Institutional investors and hedge funds own 58.00% of the company’s stock.

Shares of IBOC stock traded down $0.86 during midday trading on Friday, reaching $40.48. 465,900 shares of the company traded hands, compared to its average volume of 184,778. International Bancshares Corp has a 1-year low of $36.65 and a 1-year high of $47.95. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 15.73 and a beta of 1.46.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Tuesday, August 7th. The bank reported $0.79 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 31.78% and a return on equity of 10.38%. The company had revenue of $144.58 million during the quarter.

The business also recently disclosed a semiannual dividend, which will be paid on Tuesday, October 16th. Investors of record on Tuesday, October 9th will be given a dividend of $0.42 per share. This is an increase from International Bancshares’s previous semiannual dividend of $0.33. This represents a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 5th.

In other news, Director Antonio R. Sanchez, Jr. sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $46.78, for a total transaction of $9,356,000.00. Following the completion of the sale, the director now directly owns 1,865,131 shares of the company’s stock, valued at approximately $87,250,828.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.12% of the company’s stock.

Separately, BidaskClub raised International Bancshares from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th.

International Bancshares Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.

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Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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