Denali Advisors LLC Purchases 96,321 Shares of International Bancshares Co. (NASDAQ:IBOC)

Denali Advisors LLC boosted its holdings in International Bancshares Co. (NASDAQ:IBOC) by 2,051.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,016 shares of the bank’s stock after purchasing an additional 96,321 shares during the period. Denali Advisors LLC’s holdings in International Bancshares were worth $6,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBOC. Y Intercept Hong Kong Ltd increased its stake in International Bancshares by 41.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 13,818 shares of the bank’s stock worth $873,000 after purchasing an additional 4,062 shares during the period. Handelsbanken Fonder AB increased its stake in shares of International Bancshares by 10.1% in the fourth quarter. Handelsbanken Fonder AB now owns 13,102 shares of the bank’s stock worth $828,000 after buying an additional 1,200 shares during the period. New York State Common Retirement Fund raised its holdings in International Bancshares by 40.3% during the 4th quarter. New York State Common Retirement Fund now owns 103,753 shares of the bank’s stock valued at $6,553,000 after buying an additional 29,800 shares during the last quarter. Principal Financial Group Inc. boosted its position in International Bancshares by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 152,926 shares of the bank’s stock valued at $9,659,000 after buying an additional 3,033 shares during the period. Finally, Monument Capital Management grew its holdings in International Bancshares by 12.1% in the 4th quarter. Monument Capital Management now owns 3,955 shares of the bank’s stock worth $250,000 after acquiring an additional 427 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

International Bancshares Price Performance

IBOC stock opened at $65.57 on Wednesday. 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 50-day moving average price is $65.15 and its two-hundred day moving average price is $64.66. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 10.20 and a beta of 0.93. International Bancshares Co. has a 12-month low of $50.77 and a 12-month high of $76.91.

International Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.70 per share. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. International Bancshares’s dividend payout ratio is presently 21.77%.

International Bancshares Company 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.