International Bancshares Co. (NASDAQ:IBOC) Sees Significant Decline in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 692,900 shares, a drop of 12.7% from the October 15th total of 793,400 shares. Based on an average daily volume of 205,300 shares, the days-to-cover ratio is currently 3.4 days. Approximately 1.3% of the company’s shares are short sold.

International Bancshares Trading Down 0.1 %

Shares of NASDAQ IBOC traded down $0.07 on Monday, reaching $70.82. 140,191 shares of the company traded hands, compared to its average volume of 222,174. The stock has a market capitalization of $4.41 billion, a PE ratio of 11.02 and a beta of 0.87. International Bancshares has a fifty-two week low of $44.24 and a fifty-two week high of $73.82. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $62.80 and a 200 day moving average of $60.70.

Insider Transactions at International Bancshares

In related news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.93% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of IBOC. Hennion & Walsh Asset Management Inc. increased its stake in International Bancshares by 3.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,625 shares of the bank’s stock worth $336,000 after acquiring an additional 208 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of International Bancshares by 4.3% during the 3rd quarter. Quantinno Capital Management LP now owns 5,465 shares of the bank’s stock worth $327,000 after purchasing an additional 223 shares during the period. Blue Trust Inc. increased its position in International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after purchasing an additional 306 shares in the last quarter. Arizona State Retirement System lifted its position in International Bancshares by 2.0% during the second quarter. Arizona State Retirement System now owns 15,663 shares of the bank’s stock valued at $896,000 after buying an additional 313 shares in the last quarter. Finally, Hancock Whitney Corp lifted its position in International Bancshares by 1.7% during the third quarter. Hancock Whitney Corp now owns 19,012 shares of the bank’s stock valued at $1,137,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds 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.