International Bancshares Co. (NASDAQ:IBOC) Raises Dividend to $0.70 Per Share

International Bancshares Co. (NASDAQ:IBOC) announced a quarterly dividend on Monday, February 3rd,RTT News reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.70 per share by the bank on Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.31%. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27.

International Bancshares has increased its dividend payment by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 15 consecutive years.

International Bancshares Price Performance

NASDAQ IBOC traded down $0.94 during trading hours on Monday, reaching $64.95. The company’s stock had a trading volume of 478,438 shares, compared to its average volume of 305,671. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 10.10 and a beta of 0.93. International Bancshares has a 1-year low of $48.85 and a 1-year high of $76.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50-day moving average is $67.10 and its two-hundred day moving average is $64.49.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

Insider Buying and Selling at International Bancshares

In related news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the sale, the chief executive officer now owns 965,185 shares of the company’s stock, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.93% of the company’s stock.

About International Bancshares

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.