UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,734 Shares of International Bancshares Corporation $IBOC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,945 shares of the bank’s stock after selling 8,734 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in International Bancshares were worth $7,515,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in International Bancshares by 35.8% in the 2nd quarter. Versant Capital Management Inc now owns 596 shares of the bank’s stock valued at $45,000 after acquiring an additional 157 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of International Bancshares by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,601 shares of the bank’s stock worth $511,000 after acquiring an additional 168 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of International Bancshares by 5.3% in the fourth quarter. Cetera Investment Advisers now owns 3,641 shares of the bank’s stock valued at $242,000 after purchasing an additional 184 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of International Bancshares by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 18,402 shares of the bank’s stock valued at $1,223,000 after purchasing an additional 196 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of International Bancshares by 1.6% in the first quarter. State of Michigan Retirement System now owns 13,012 shares of the bank’s stock worth $876,000 after purchasing an additional 200 shares in the last quarter. 65.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of International Bancshares from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, International Bancshares presently has an average rating of “Buy” and an average price target of $85.00.

International Bancshares Stock Performance

Shares of NASDAQ IBOC opened at $71.91 on Tuesday. The stock has a 50 day moving average price of $74.19 and a 200 day moving average price of $72.17. International Bancshares Corporation has a 52 week low of $63.19 and a 52 week high of $78.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $4.47 billion, a PE ratio of 10.85 and a beta of 0.67.

International Bancshares (NASDAQ:IBOC) last announced its quarterly 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 return on equity of 12.67% and a net margin of 38.83%.The business had revenue of $214.82 million for the quarter, compared to analyst estimates of $264.13 million.

International Bancshares Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.73 dividend. The ex-dividend date was Friday, August 14th. This represents a yield of 199.0%. International Bancshares’s dividend payout ratio is 22.02%.

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.