SOL Capital Management CO decreased its position in International Bancshares Corp (NASDAQ:IBOC) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 328,025 shares of the bank’s stock after selling 1,500 shares during the period. International Bancshares comprises approximately 3.7% of SOL Capital Management CO’s portfolio, making the stock its 2nd largest position. SOL Capital Management CO’s holdings in International Bancshares were worth $13,023,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Suntrust Banks Inc. grew its holdings in shares of International Bancshares 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. Amalgamated Bank grew its holdings in shares of International Bancshares 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. Thrivent Financial For Lutherans grew its holdings in shares of International Bancshares by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 11,760 shares of the bank’s stock valued at $412,000 after buying an additional 710 shares during the period. The Manufacturers Life Insurance Company lifted its position in International Bancshares by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 126,279 shares of the bank’s stock valued at $4,426,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in International Bancshares by 8.7% in the 2nd quarter. Voya Investment Management LLC now owns 24,692 shares of the bank’s stock valued at $865,000 after acquiring an additional 1,978 shares in the last quarter. 57.16% of the stock is owned by institutional investors.

International Bancshares Corp (IBOC) traded down $0.35 on Wednesday, reaching $41.50. 182,264 shares of the company traded hands, compared to its average volume of 144,238. The company has a market cap of $2,765.22, a PE ratio of 18.94 and a beta of 1.51. International Bancshares Corp has a 1-year low of $32.50 and a 1-year high of $42.90. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.68.

International Bancshares (NASDAQ:IBOC) last posted its quarterly earnings data on Wednesday, November 8th. The bank reported $0.59 EPS for the quarter. International Bancshares had a net margin of 26.36% and a return on equity of 8.34%.

In related news, Director Antonio R. Sanchez, Jr. sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $38.91, for a total value of $11,673,000.00. Following the sale, the director now directly owns 1,672,890 shares of the company’s stock, valued at approximately $65,092,149.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 134,900 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $38.86, for a total transaction of $5,242,214.00. Following the completion of the sale, the director now directly owns 1,672,890 shares in the company, valued at $65,008,505.40. The disclosure for this sale can be found here. Insiders own 17.93% of the company’s stock.

Separately, BidaskClub raised shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd.

TRADEMARK VIOLATION WARNING: “SOL Capital Management CO Has $13.02 Million Stake in International Bancshares Corp (IBOC)” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2018/01/31/sol-capital-management-co-has-13-02-million-stake-in-international-bancshares-corp-iboc.html.

International Bancshares 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.

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Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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