Walleye Capital LLC Makes New Investment in International Bancshares Corporation $IBOC

Walleye Capital LLC acquired a new stake in International Bancshares Corporation (NASDAQ:IBOC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 200,778 shares of the bank’s stock, valued at approximately $15,249,000. Walleye Capital LLC owned approximately 0.32% of International Bancshares at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IBOC. Dimensional Fund Advisors LP increased its position in shares of International Bancshares by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,186,820 shares of the bank’s stock worth $214,442,000 after purchasing an additional 9,468 shares during the period. Charles Schwab Investment Management Inc. raised its stake in International Bancshares by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,879 shares of the bank’s stock valued at $151,342,000 after purchasing an additional 45,980 shares in the last quarter. Azora Capital LP raised its stake in International Bancshares by 35.1% in the fourth quarter. Azora Capital LP now owns 1,524,345 shares of the bank’s stock valued at $101,277,000 after purchasing an additional 395,984 shares in the last quarter. Geode Capital Management LLC lifted its position in International Bancshares by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,435,471 shares of the bank’s stock worth $95,385,000 after purchasing an additional 9,496 shares during the period. Finally, First Trust Advisors LP lifted its position in International Bancshares by 7.4% during the fourth quarter. First Trust Advisors LP now owns 1,364,148 shares of the bank’s stock worth $90,634,000 after purchasing an additional 93,610 shares during the period. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Stock Down 0.0%

Shares of IBOC opened at $73.38 on Friday. The firm has a 50 day simple moving average of $75.48 and a two-hundred day simple moving average of $72.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.77. International Bancshares Corporation has a one year low of $63.19 and a one year high of $78.46. The company has a market cap of $4.56 billion, a P/E ratio of 11.07 and a beta of 0.69.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, August 6th. The bank reported $1.54 earnings per share 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 12.67%. The business had revenue of $214.82 million during the quarter, compared to analyst estimates of $264.13 million.

International Bancshares Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.73 per share. This represents a dividend yield of 199.0%. The ex-dividend date is Friday, August 14th. International Bancshares’s dividend payout ratio is currently 22.02%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $85.00.

International Bancshares Company 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.