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

International Bancshares Co. (NASDAQ:IBOC) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 865,100 shares, a decrease of 25.4% from the February 13th total of 1,160,000 shares. Based on an average trading volume of 297,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.6% of the company’s shares are sold short.

Hedge Funds Weigh In On International Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in IBOC. Point72 Asset Management L.P. bought a new position in shares of International Bancshares during the 4th quarter worth $88,000. Sterling Capital Management LLC grew its position in shares of International Bancshares by 836.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank’s stock worth $110,000 after buying an additional 1,555 shares in the last quarter. KBC Group NV grew its position in shares of International Bancshares by 71.2% during the 4th quarter. KBC Group NV now owns 2,612 shares of the bank’s stock worth $165,000 after buying an additional 1,086 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in International Bancshares during the third quarter valued at about $202,000. Finally, Cetera Investment Advisers bought a new stake in International Bancshares during the fourth quarter valued at about $212,000. Institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Down 1.1 %

International Bancshares stock traded down $0.71 during mid-day trading on Monday, hitting $62.45. The company’s stock had a trading volume of 501,928 shares, compared to its average volume of 229,420. The company has a 50 day moving average of $64.96 and a 200-day moving average of $64.97. The stock has a market cap of $3.89 billion, a PE ratio of 9.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. International Bancshares has a one year low of $51.80 and a one year high of $76.91.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

International Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.70 per share. This is an increase from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.48%. International Bancshares’s dividend payout ratio is presently 21.31%.

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.