International Bancshares (NASDAQ:IBOC) Reaches New 52-Week High at $56.30

International Bancshares Co. (NASDAQ:IBOC) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.30 and last traded at $55.91, with a volume of 6042 shares. The stock had previously closed at $55.84.

Wall Street Analysts Forecast Growth

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

International Bancshares Stock Up 0.3 %

The stock’s fifty day moving average is $53.21 and its two-hundred day moving average is $49.04. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.48 billion, a PE ratio of 8.44 and a beta of 0.93.

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

International Bancshares Increases Dividend

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

Insider Buying and Selling

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

Institutional Trading of International Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of International Bancshares by 4.2% during the third quarter. Vanguard Group Inc. now owns 6,378,407 shares of the bank’s stock valued at $271,082,000 after purchasing an additional 255,285 shares during the period. Dimensional Fund Advisors LP lifted its stake in International Bancshares by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,228,382 shares of the bank’s stock worth $178,482,000 after acquiring an additional 54,029 shares during the period. Wellington Management Group LLP lifted its stake in International Bancshares by 9.4% in the first quarter. Wellington Management Group LLP now owns 3,303,161 shares of the bank’s stock worth $139,427,000 after acquiring an additional 284,432 shares during the period. State Street Corp lifted its stake in International Bancshares by 12.2% in the first quarter. State Street Corp now owns 2,566,311 shares of the bank’s stock worth $108,324,000 after acquiring an additional 279,303 shares during the period. Finally, North Reef Capital Management LP lifted its stake in International Bancshares by 2.5% in the third quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock worth $71,511,000 after acquiring an additional 39,938 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Company Profile

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.