LRI Investments LLC Takes $117,000 Position in International Bancshares Co. (NASDAQ:IBOC)

LRI Investments LLC purchased a new stake in shares of International Bancshares Co. (NASDAQ:IBOC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,961 shares of the bank’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds have also modified their holdings of IBOC. TFO Wealth Partners LLC boosted its position in International Bancshares by 13,325.0% during the fourth quarter. TFO Wealth Partners LLC now owns 537 shares of the bank’s stock valued at $29,000 after purchasing an additional 533 shares during the last quarter. Strs Ohio boosted its position in International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in International Bancshares during the first quarter valued at $151,000. Covestor Ltd boosted its position in International Bancshares by 14.4% during the first quarter. Covestor Ltd now owns 3,369 shares of the bank’s stock valued at $189,000 after purchasing an additional 424 shares during the last quarter. Finally, Inceptionr LLC acquired a new stake in International Bancshares during the fourth quarter valued at $208,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

IBOC opened at $61.27 on Friday. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 9.35 and a beta of 0.89. International Bancshares Co. has a 1 year low of $41.96 and a 1 year high of $69.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $59.15 and a 200 day moving average price of $56.28.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings results on Thursday, May 2nd. The bank reported $1.56 earnings per share for the quarter. International Bancshares had a return on equity of 17.01% and a net margin of 39.64%. The company had revenue of $205.85 million during the quarter.

International Bancshares Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. International Bancshares’s dividend payout ratio is currently 20.15%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 11th.

Insiders Place Their Bets

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total value of $1,799,192.00. Following the completion of the sale, the director now owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.93% of the company’s stock.

International Bancshares 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.