Cubist Systematic Strategies LLC Acquires New Position in International Bancshares Corporation (IBOC)
Cubist Systematic Strategies LLC acquired a new stake in shares of International Bancshares Corporation (NASDAQ:IBOC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,940 shares of the bank’s stock, valued at approximately $208,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP grew its stake in International Bancshares Corporation by 387.1% during the 2nd quarter. Quantbot Technologies LP now owns 6,819 shares of the bank’s stock valued at $239,000 after acquiring an additional 5,419 shares in the last quarter. ING Groep NV purchased a new stake in shares of International Bancshares Corporation in the 2nd quarter valued at approximately $248,000. Amalgamated Bank grew its stake in shares of International Bancshares Corporation by 0.9% in the 2nd quarter. Amalgamated Bank now owns 7,811 shares of the bank’s stock valued at $274,000 after buying an additional 72 shares during the period. Ramsey Quantitative Systems purchased a new stake in shares of International Bancshares Corporation in the 2nd quarter valued at approximately $303,000. Finally, Suntrust Banks Inc. grew its stake in shares of International Bancshares Corporation by 0.7% in the 2nd quarter. Suntrust Banks Inc. now owns 9,879 shares of the bank’s stock valued at $346,000 after buying an additional 72 shares during the period. 55.40% of the stock is owned by institutional investors.
Shares of International Bancshares Corporation (IBOC) opened at $40.95 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 5.67 and a beta of 1.52.
International Bancshares Corporation (NASDAQ:IBOC) last released its quarterly earnings data on Monday, August 7th. The bank reported $0.61 EPS for the quarter. International Bancshares Corporation had a return on equity of 8.20% and a net margin of 26.21%.
The company also recently disclosed a semiannual dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.33 dividend. The ex-dividend date was Thursday, September 28th. This represents a yield of 1.74%. International Bancshares Corporation’s dividend payout ratio is currently 9.03%.
Separately, BidaskClub cut shares of International Bancshares Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th.
COPYRIGHT VIOLATION WARNING: “Cubist Systematic Strategies LLC Acquires New Position in International Bancshares Corporation (IBOC)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/11/04/cubist-systematic-strategies-llc-acquires-new-position-in-international-bancshares-corporation-iboc.html.
In related news, VP R David Guerra sold 2,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $36.67, for a total value of $91,675.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Antonio R. Sanchez, Jr. sold 15,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $36.52, for a total value of $547,800.00. Following the completion of the transaction, the director now owns 1,672,890 shares in the company, valued at approximately $61,093,942.80. The disclosure for this sale can be found here. Insiders sold 87,500 shares of company stock worth $3,177,275 in the last 90 days. 17.93% of the stock is currently owned by corporate insiders.
International Bancshares Corporation Company Profile
International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.
Want to see what other hedge funds are holding IBOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Bancshares Corporation (NASDAQ:IBOC).
Receive News & Stock Ratings for International Bancshares Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Bancshares Corporation and related stocks with our FREE daily email newsletter.