International Bancshares Co. (NASDAQ:IBOC) Short Interest Up 8.5% in February

International Bancshares Co. (NASDAQ:IBOCGet Free Report) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 794,100 shares, a growth of 8.5% from the January 31st total of 731,700 shares. Based on an average daily volume of 237,800 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.5% of the shares of the company are sold short.

International Bancshares Stock Performance

IBOC opened at $52.42 on Tuesday. International Bancshares has a 1-year low of $39.10 and a 1-year high of $55.37. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 7.92 and a beta of 0.93. The business has a 50 day moving average price of $52.77 and a two-hundred day moving average price of $47.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.70 and a quick ratio of 0.70.

International Bancshares Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.66 per share. The ex-dividend date was Wednesday, February 14th. This is a positive change from International Bancshares’s previous semi-annual dividend of $0.63. This represents a dividend yield of 2.5%. International Bancshares’s dividend payout ratio (DPR) is currently 19.94%.

Insider Transactions at International Bancshares

In other news, Director Antonio R. Sanchez, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $49.06, for a total transaction of $1,226,500.00. Following the completion of the transaction, the director now owns 1,839,554 shares of the company’s stock, valued at $90,248,519.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 14.45% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its stake in International Bancshares by 114.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 56,091 shares of the bank’s stock worth $2,479,000 after purchasing an additional 29,918 shares during the period. Jupiter Asset Management Ltd. boosted its position in International Bancshares by 1,035.5% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank’s stock worth $4,407,000 after acquiring an additional 92,722 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in International Bancshares by 17.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,394 shares of the bank’s stock worth $1,211,000 after acquiring an additional 4,057 shares during the period. North Reef Capital Management LP boosted its holdings in shares of International Bancshares by 2.5% during the third quarter. North Reef Capital Management LP now owns 1,650,000 shares of the bank’s stock worth $71,511,000 after purchasing an additional 39,938 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of International Bancshares by 68.3% during the third quarter. Teacher Retirement System of Texas now owns 48,707 shares of the bank’s stock worth $2,111,000 after purchasing an additional 19,768 shares during the period. Institutional investors and hedge funds own 63.92% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th.

View Our Latest Stock Report on International Bancshares

About International Bancshares

(Get Free Report)

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.

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