Foundry Partners LLC raised its stake in shares of International Bancshares Corporation (NASDAQ:IBOC) by 8.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 347,666 shares of the bank’s stock after buying an additional 27,286 shares during the period. Foundry Partners LLC’s holdings in International Bancshares Corporation were worth $12,186,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of International Bancshares Corporation by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 663,439 shares of the bank’s stock valued at $23,241,000 after buying an additional 21,780 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of International Bancshares Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 563,649 shares of the bank’s stock valued at $19,756,000 after buying an additional 3,182 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of International Bancshares Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 42,439 shares of the bank’s stock valued at $1,487,000 after buying an additional 395 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of International Bancshares Corporation by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 35,454 shares of the bank’s stock valued at $1,238,000 after buying an additional 1,445 shares during the last quarter. Finally, ING Groep NV purchased a new stake in shares of International Bancshares Corporation during the second quarter valued at approximately $248,000. 56.11% of the stock is currently owned by institutional investors.

Shares of International Bancshares Corporation (IBOC) opened at 35.10 on Friday. The company has a market cap of $2.32 billion, a PE ratio of 16.25 and a beta of 1.52. The company has a 50 day moving average price of $35.33 and a 200 day moving average price of $35.98. International Bancshares Corporation has a 52 week low of $27.92 and a 52 week high of $42.25.

International Bancshares Corporation (NASDAQ:IBOC) last posted its quarterly earnings data on Monday, August 7th. The bank reported $0.61 earnings per share (EPS) for the quarter. International Bancshares Corporation had a return on equity of 8.20% and a net margin of 26.21%. On average, equities analysts expect that International Bancshares Corporation will post $1.59 earnings per share for the current year.

International Bancshares Corporation declared that its board has initiated a share buyback program on Friday, April 21st that permits the company to buyback $40.00 million in shares. This buyback authorization permits the bank to repurchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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Separately, BidaskClub cut International Bancshares Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th.

In related news, VP R David Guerra sold 1,875 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $36.04, for a total transaction of $67,575.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares in the company, valued at $90,100. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.93% of the stock is currently owned by company insiders.

International Bancshares Corporation Company Profile

International Bancshares Corporation is a financial holding company. The Company, through its subsidiaries, is primarily engaged in the business of banking, including the acceptance of checking and savings deposits, and the making of commercial, real estate, personal, home improvement, automobile, and other installment and term loans.

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Institutional Ownership by Quarter for International Bancshares Corporation (NASDAQ:IBOC)

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