International Bancshares Corporation $IBOC Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 11.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 48,630 shares of the bank’s stock after acquiring an additional 5,037 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of International Bancshares worth $3,237,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of International Bancshares during the 1st quarter valued at about $30,000. UMB Bank n.a. increased its holdings in shares of International Bancshares by 67.3% during the 2nd quarter. UMB Bank n.a. now owns 629 shares of the bank’s stock valued at $42,000 after acquiring an additional 253 shares during the last quarter. CENTRAL TRUST Co acquired a new position in shares of International Bancshares during the 1st quarter valued at about $63,000. GAMMA Investing LLC increased its holdings in shares of International Bancshares by 183.1% during the 1st quarter. GAMMA Investing LLC now owns 1,124 shares of the bank’s stock valued at $71,000 after acquiring an additional 727 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of International Bancshares by 8.9% during the 1st quarter. Bessemer Group Inc. now owns 2,712 shares of the bank’s stock valued at $171,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of International Bancshares in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, International Bancshares has a consensus rating of “Buy”.

International Bancshares Stock Performance

IBOC opened at $68.19 on Wednesday. The firm has a market capitalization of $4.24 billion, a P/E ratio of 10.30 and a beta of 0.80. The stock’s 50 day moving average price is $69.88 and its two-hundred day moving average price is $66.06. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. International Bancshares Corporation has a 12-month low of $54.11 and a 12-month high of $76.91.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, August 7th. The bank reported $1.61 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 14.37% and a net margin of 39.51%.

International Bancshares Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.70 dividend. This is an increase from International Bancshares’s previous semi-annual dividend of $0.66. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 200.0%. International Bancshares’s payout ratio is 21.15%.

International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services in Texas and the State of Oklahoma. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans.