BidaskClub upgraded shares of International Bancshares (NASDAQ:IBOC) from a sell rating to a hold rating in a research report report published on Friday.

NASDAQ:IBOC traded down $0.86 during trading hours on Friday, reaching $40.48. 465,900 shares of the company traded hands, compared to its average volume of 184,778. The stock has a market cap of $2.98 billion, a PE ratio of 15.73 and a beta of 1.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.74. International Bancshares has a 1-year low of $36.65 and a 1-year high of $47.95.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Tuesday, August 7th. The bank reported $0.79 EPS for the quarter. The firm had revenue of $144.58 million for the quarter. International Bancshares had a return on equity of 10.38% and a net margin of 31.78%.

The business also recently announced a semiannual dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 9th will be issued a dividend of $0.42 per share. This represents a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 5th. This is a boost from International Bancshares’s previous semiannual dividend of $0.33.

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 200,000 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $46.78, for a total transaction of $9,356,000.00. Following the sale, the director now owns 1,865,131 shares in the company, valued at approximately $87,250,828.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. 17.12% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in IBOC. Meadow Creek Investment Management LLC boosted its holdings in shares of International Bancshares by 12.2% during the second quarter. Meadow Creek Investment Management LLC now owns 10,052 shares of the bank’s stock worth $430,000 after purchasing an additional 1,092 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of International Bancshares by 3.1% during the second quarter. Mutual of America Capital Management LLC now owns 46,294 shares of the bank’s stock worth $1,981,000 after purchasing an additional 1,396 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of International Bancshares by 19.3% during the second quarter. Raymond James & Associates now owns 12,385 shares of the bank’s stock worth $530,000 after purchasing an additional 2,000 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of International Bancshares by 19.6% during the second quarter. SG Americas Securities LLC now owns 16,390 shares of the bank’s stock worth $701,000 after purchasing an additional 2,689 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of International Bancshares by 24.6% during the first quarter. UBS Group AG now owns 16,047 shares of the bank’s stock worth $624,000 after purchasing an additional 3,172 shares during the last quarter. Hedge funds and other institutional investors own 58.00% of the company’s stock.

International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.

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