California State Teachers Retirement System Grows Stock Holdings in International Bancshares Corporation $IBOC

California State Teachers Retirement System increased its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,608 shares of the bank’s stock after purchasing an additional 8,006 shares during the period. California State Teachers Retirement System’s holdings in International Bancshares were worth $4,011,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its stake in International Bancshares by 4,020.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock valued at $27,000 after acquiring an additional 402 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in International Bancshares by 82.5% in the fourth quarter. Hantz Financial Services Inc. now owns 489 shares of the bank’s stock valued at $32,000 after buying an additional 221 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of International Bancshares by 82.0% during the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock worth $34,000 after buying an additional 232 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of International Bancshares during the fourth quarter worth about $47,000. Finally, Danske Bank A S purchased a new position in shares of International Bancshares during the third quarter worth about $48,000. Hedge funds and other institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Down 2.1%

Shares of IBOC stock opened at $73.55 on Friday. The stock has a market cap of $4.57 billion, a P/E ratio of 11.09 and a beta of 0.69. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a fifty-two week low of $63.19 and a fifty-two week high of $78.46. The business has a fifty day simple moving average of $75.39 and a 200-day simple moving average of $72.11.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.07). International Bancshares had a net margin of 38.83% and a return on equity of 12.82%. The business had revenue of $214.82 million during the quarter, compared to analyst estimates of $266.36 million.

International Bancshares Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.73 per share. This represents a dividend yield of 192.0%. The ex-dividend date of this dividend is Friday, August 14th. International Bancshares’s dividend payout ratio (DPR) is 21.79%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, International Bancshares currently has an average rating of “Strong Buy” and an average target price 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.