Corebridge Financial Inc. Decreases Holdings in International Bancshares Co. (NASDAQ:IBOC)

Corebridge Financial Inc. reduced its stake in International Bancshares Co. (NASDAQ:IBOC) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 87,040 shares of the bank’s stock after selling 4,720 shares during the quarter. Corebridge Financial Inc.’s holdings in International Bancshares were worth $5,497,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV grew its stake in shares of International Bancshares by 71.2% in the fourth quarter. KBC Group NV now owns 2,612 shares of the bank’s stock valued at $165,000 after buying an additional 1,086 shares in the last quarter. Centiva Capital LP purchased a new position in International Bancshares in the 3rd quarter worth approximately $250,000. Monument Capital Management grew its position in International Bancshares by 12.1% in the fourth quarter. Monument Capital Management now owns 3,955 shares of the bank’s stock valued at $250,000 after acquiring an additional 427 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in shares of International Bancshares during the third quarter valued at approximately $257,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of International Bancshares during the third quarter valued at approximately $270,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

Shares of IBOC stock opened at $62.72 on Friday. The firm has a fifty day simple moving average of $64.78 and a 200-day simple moving average of $65.08. The company has a market capitalization of $3.90 billion, a PE ratio of 9.75 and a beta of 0.88. International Bancshares Co. has a twelve month low of $51.80 and a twelve month 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.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $1.85 EPS for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.46%. This is an increase from International Bancshares’s previous quarterly dividend of $0.27. International Bancshares’s dividend payout ratio is currently 21.31%.

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.