International Bancshares Corporation $IBOC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in International Bancshares Corporation (NASDAQ:IBOC) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 516,287 shares of the bank’s stock after selling 29,948 shares during the quarter. ProShare Advisors LLC’s holdings in International Bancshares were worth $35,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC increased its stake in International Bancshares by 46.1% in the second quarter. CWM LLC now owns 1,229 shares of the bank’s stock valued at $82,000 after purchasing an additional 388 shares during the last quarter. Covestor Ltd increased its holdings in International Bancshares by 19.9% in the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock valued at $82,000 after purchasing an additional 199 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Bancshares in the second quarter valued at about $127,000. EverSource Wealth Advisors LLC raised its stake in shares of International Bancshares by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,341 shares of the bank’s stock valued at $156,000 after purchasing an additional 341 shares during the period. Finally, M&T Bank Corp purchased a new stake in International Bancshares during the 2nd quarter worth $200,000. 65.91% of the stock is currently owned by institutional investors and hedge funds.

International Bancshares Trading Down 1.5%

International Bancshares stock opened at $73.43 on Tuesday. The firm has a 50 day simple moving average of $69.86 and a 200-day simple moving average of $68.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $4.56 billion, a PE ratio of 10.86 and a beta of 0.73. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $75.44.

International Bancshares Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 13th. This represents a dividend yield of 203.0%. International Bancshares’s dividend payout ratio (DPR) is 20.71%.

Wall Street Analyst Weigh In

IBOC has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a research report on Thursday, January 22nd. Loop Capital set a $85.00 target price on International Bancshares in a research note on Wednesday, December 31st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $85.00.

International Bancshares Profile

International Bancshares Corporation is a bank holding company headquartered in Laredo, Texas, that provides a comprehensive range of financial products and services through its subsidiary, International Bank of Commerce. As one of the largest community banking organizations in the United States, the company serves retail, commercial, and corporate clients with a focus on relationship-driven banking.

The company’s offerings include deposit products, consumer and commercial loans, treasury management, mortgage lending, trust and wealth management, and insurance services.