Hsbc Holdings PLC Purchases New Holdings in International Bancshares Corporation $IBOC

Hsbc Holdings PLC acquired a new position in shares of International Bancshares Corporation (NASDAQ:IBOC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,760 shares of the bank’s stock, valued at approximately $2,421,000. Hsbc Holdings PLC owned 0.05% of International Bancshares at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in shares of International Bancshares by 4,020.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 412 shares of the bank’s stock worth $27,000 after purchasing an additional 402 shares in the last quarter. Hantz Financial Services Inc. increased 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 acquiring an additional 221 shares during the last quarter. Quadrant Capital Group LLC increased its stake in International Bancshares by 82.0% in the fourth quarter. Quadrant Capital Group LLC now owns 515 shares of the bank’s stock valued at $34,000 after acquiring an additional 232 shares during the last quarter. Allworth Financial LP acquired a new position in International Bancshares during the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc raised its position in International Bancshares by 35.8% during the second quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock valued at $45,000 after purchasing an additional 157 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Price Performance

IBOC stock opened at $70.93 on Monday. The stock has a market capitalization of $4.41 billion, a P/E ratio of 10.70 and a beta of 0.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. International Bancshares Corporation has a 12 month low of $63.19 and a 12 month high of $78.46. The firm has a 50-day moving average price of $74.84 and a 200-day moving average price of $72.22.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, August 6th. The bank reported $1.54 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.07). International Bancshares had a net margin of 38.83% and a return on equity of 12.67%. The company had revenue of $214.82 million during the quarter, compared to the consensus estimate of $264.13 million.

International Bancshares Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a dividend yield of 199.0%. International Bancshares’s dividend payout ratio (DPR) is 22.02%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average 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.