Legal & General Group Plc Cuts Stake in International Bancshares Co. (NASDAQ:IBOC)

Legal & General Group Plc lessened its stake in International Bancshares Co. (NASDAQ:IBOC) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 88,931 shares of the bank’s stock after selling 3,837 shares during the quarter. Legal & General Group Plc’s holdings in International Bancshares were worth $5,617,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IBOC. Vanguard Group Inc. raised its holdings in International Bancshares by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,407,121 shares of the bank’s stock worth $404,674,000 after buying an additional 18,408 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in International Bancshares by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,078,168 shares of the bank’s stock worth $131,257,000 after acquiring an additional 81,386 shares during the last quarter. American Century Companies Inc. lifted its position in International Bancshares by 57.0% in the 4th quarter. American Century Companies Inc. now owns 1,753,478 shares of the bank’s stock valued at $110,750,000 after acquiring an additional 636,533 shares in the last quarter. Boston Trust Walden Corp boosted its stake in International Bancshares by 11.4% during the 4th 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. Finally, Reinhart Partners LLC. increased its holdings in shares of International Bancshares by 0.7% in the 4th quarter. Reinhart Partners LLC. now owns 687,160 shares of the bank’s stock worth $43,401,000 after purchasing an additional 5,016 shares in the last quarter. Institutional investors own 65.91% of the company’s stock.

International Bancshares Trading Up 0.5 %

Shares of NASDAQ:IBOC opened at $59.07 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. International Bancshares Co. has a 1 year low of $53.33 and a 1 year high of $76.91. The company has a market cap of $3.68 billion, a P/E ratio of 9.19 and a beta of 0.80. The stock’s fifty day moving average price is $62.16 and its 200-day moving average price is $64.91.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share (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 business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Friday, February 14th. This is an increase from International Bancshares’s previous quarterly dividend of $0.27. International Bancshares’s payout ratio is 21.31%.

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.