Retirement Systems of Alabama Cuts Position in International Bancshares Corporation (IBOC)
Retirement Systems of Alabama cut its position in shares of International Bancshares Corporation (NASDAQ:IBOC) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 74,935 shares of the bank’s stock after selling 35 shares during the period. Retirement Systems of Alabama owned 0.11% of International Bancshares Corporation worth $2,626,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. 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 worth $1,487,000 after buying an additional 395 shares during the period. Great West Life Assurance Co. Can raised its position in 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 worth $1,238,000 after buying an additional 1,445 shares in the last quarter. ING Groep NV bought a new position in International Bancshares Corporation during the second quarter worth $248,000. Finally, Russell Investments Group Ltd. raised its position in International Bancshares Corporation by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 663,439 shares of the bank’s stock worth $23,241,000 after buying an additional 21,780 shares in the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.
International Bancshares Corporation (IBOC) opened at 35.65 on Wednesday. International Bancshares Corporation has a 12-month low of $27.92 and a 12-month high of $42.25. The stock has a 50 day moving average price of $35.50 and a 200-day moving average price of $35.87. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 16.50 and a beta of 1.52.
International Bancshares Corporation (NASDAQ:IBOC) last posted its quarterly earnings results on Monday, August 7th. The bank reported $0.61 earnings per share for the quarter. International Bancshares Corporation had a return on equity of 8.20% and a net margin of 26.21%. On average, analysts predict that International Bancshares Corporation will post $1.59 EPS for the current fiscal year.
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Separately, BidaskClub lowered International Bancshares Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th.
In related news, VP R David Guerra sold 1,875 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $36.04, for a total value of $67,575.00. Following the sale, the vice president now owns 2,500 shares in the company, valued at approximately $90,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Antonio R. Sanchez, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $36.52, for a total value of $547,800.00. Following the completion of the sale, the director now owns 1,672,890 shares in the company, valued at approximately $61,093,942.80. The disclosure for this sale can be found here. Insiders sold a total of 86,875 shares of company stock worth $3,153,175 in the last 90 days. 17.93% of the stock is currently owned by company insiders.
About International Bancshares Corporation
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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