International Bancshares Corporation $IBOC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in International Bancshares Corporation (NASDAQ:IBOC) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516,287 shares of the bank’s stock after selling 29,948 shares during the quarter. ProShare Advisors LLC owned approximately 0.83% of International Bancshares worth $35,495,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in International Bancshares by 4.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,345 shares of the bank’s stock valued at $289,000 after purchasing an additional 169 shares in the last quarter. Arizona State Retirement System boosted its stake in International Bancshares by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 16,497 shares of the bank’s stock worth $1,134,000 after purchasing an additional 176 shares during the period. Nisa Investment Advisors LLC grew its position in International Bancshares by 0.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,169 shares of the bank’s stock worth $2,075,000 after purchasing an additional 192 shares during the last quarter. Covestor Ltd grew its position in International Bancshares by 19.9% during the 3rd quarter. Covestor Ltd now owns 1,197 shares of the bank’s stock worth $82,000 after purchasing an additional 199 shares during the last quarter. Finally, Amalgamated Bank increased its stake in International Bancshares by 0.9% in the third quarter. Amalgamated Bank now owns 23,744 shares of the bank’s stock valued at $1,632,000 after purchasing an additional 202 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of NASDAQ IBOC opened at $73.43 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.76. International Bancshares Corporation has a one year low of $54.11 and a one year high of $75.44. The firm has a market capitalization of $4.56 billion, a P/E ratio of 10.86 and a beta of 0.73. The company’s fifty day moving average is $69.86 and its two-hundred day moving average is $68.94.

International Bancshares Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a yield of 203.0%. International Bancshares’s payout ratio is currently 20.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of International Bancshares in a research note on Thursday, January 22nd. Loop Capital set a $85.00 price objective on shares of International Bancshares in a research report on Wednesday, December 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.