Vest Financial LLC Raises Stock Position in International Bancshares Co. (NASDAQ:IBOC)

Vest Financial LLC increased its position in International Bancshares Co. (NASDAQ:IBOC) by 58.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,398 shares of the bank’s stock after acquiring an additional 14,127 shares during the period. Vest Financial LLC owned approximately 0.06% of International Bancshares worth $2,425,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its position in shares of International Bancshares by 5,673.7% in the third quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after buying an additional 2,156 shares in the last quarter. Reinhart Partners LLC. increased its position in International Bancshares by 5.6% during the third quarter. Reinhart Partners LLC. now owns 682,144 shares of the bank’s stock worth $40,785,000 after buying an additional 36,284 shares in the last quarter. Inspire Investing LLC lifted its position in shares of International Bancshares by 12.2% in the third quarter. Inspire Investing LLC now owns 6,887 shares of the bank’s stock valued at $412,000 after acquiring an additional 750 shares in the last quarter. Creative Planning raised its stake in International Bancshares by 47.9% in the 3rd quarter. Creative Planning now owns 5,200 shares of the bank’s stock valued at $311,000 after purchasing an additional 1,684 shares during the last quarter. Finally, Tamar Securities LLC grew its holdings in shares of International Bancshares by 7.0% during the third quarter. Tamar Securities LLC now owns 602,142 shares of the bank’s stock worth $36,002,000 after buying an additional 39,234 shares in the last quarter. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Stock Down 1.8 %

Shares of NASDAQ IBOC opened at $66.67 on Friday. International Bancshares Co. has a 1 year low of $48.85 and a 1 year high of $76.91. The firm has a market cap of $4.15 billion, a P/E ratio of 10.37 and a beta of 0.93. The firm’s 50 day moving average price is $66.42 and its 200 day moving average price is $64.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

International Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from International Bancshares’s previous quarterly dividend of $0.27. International Bancshares’s payout ratio is presently 20.53%.

Insider Buying and Selling

In related news, CEO Dennis E. Nixon sold 34,815 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the sale, the chief executive officer now directly owns 965,185 shares of the company’s stock, valued at $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 13.93% of the company’s stock.

International Bancshares 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.