Strategic Financial Concepts LLC Makes New Investment in International Bancshares Co. (NASDAQ:IBOC)

Strategic Financial Concepts LLC purchased a new position in International Bancshares Co. (NASDAQ:IBOC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 63,160 shares of the bank’s stock, valued at approximately $3,989,000.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of International Bancshares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank’s stock valued at $119,388,000 after acquiring an additional 55,406 shares in the last quarter. Boston Trust Walden Corp grew its holdings in International Bancshares by 11.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank’s stock valued at $89,216,000 after purchasing an additional 144,684 shares during the last quarter. Geode Capital Management LLC raised its position in shares of International Bancshares by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,352,406 shares of the bank’s stock valued at $80,874,000 after purchasing an additional 9,986 shares during the period. Azora Capital LP lifted its stake in shares of International Bancshares by 7.2% in the third quarter. Azora Capital LP now owns 905,453 shares of the bank’s stock worth $54,137,000 after buying an additional 60,573 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of International Bancshares by 0.7% during the 4th quarter. Reinhart Partners LLC. now owns 687,160 shares of the bank’s stock worth $43,401,000 after buying an additional 5,016 shares during the period. Institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Performance

NASDAQ:IBOC opened at $66.67 on Monday. The firm has a market capitalization of $4.15 billion, a PE ratio of 10.37 and a beta of 0.93. International Bancshares Co. has a 1 year low of $48.85 and a 1 year high of $76.91. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $66.42 and its 200 day simple moving average is $64.52.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share (EPS) 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 firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.20%. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27. International Bancshares’s dividend payout ratio (DPR) is 21.77%.

Insiders Place Their Bets

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’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 owns 965,185 shares in the company, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.