Strategic Financial Concepts LLC Purchases New Holdings in International Bancshares Co. (NASDAQ:IBOC)

Strategic Financial Concepts LLC acquired a new position in International Bancshares Co. (NASDAQ:IBOC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 63,160 shares of the bank’s stock, valued at approximately $3,989,000. Strategic Financial Concepts LLC owned 0.10% of International Bancshares as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBOC. Charles Schwab Investment Management Inc. boosted its position in shares of International Bancshares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank’s stock worth $119,388,000 after buying an additional 55,406 shares during the period. Boston Trust Walden Corp lifted its stake in International Bancshares by 11.4% in the 4th quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank’s stock worth $89,216,000 after acquiring an additional 144,684 shares in the last quarter. Geode Capital Management LLC boosted its position in International Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,352,406 shares of the bank’s stock worth $80,874,000 after acquiring an additional 9,986 shares during the period. Azora Capital LP boosted its position in International Bancshares by 7.2% during the 3rd quarter. Azora Capital LP now owns 905,453 shares of the bank’s stock worth $54,137,000 after acquiring an additional 60,573 shares during the period. Finally, Reinhart Partners LLC. grew its stake in International Bancshares by 0.7% during the 4th quarter. Reinhart Partners LLC. now owns 687,160 shares of the bank’s stock valued at $43,401,000 after acquiring an additional 5,016 shares in the last quarter. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the completion of the sale, the chief executive officer now directly owns 965,185 shares of the company’s stock, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.93% of the company’s stock.

International Bancshares Price Performance

NASDAQ IBOC opened at $66.67 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. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.37 and a beta of 0.93. The company has a 50 day simple moving average of $66.42 and a 200-day simple moving average of $64.52. International Bancshares Co. has a 52-week low of $48.85 and a 52-week high of $76.91.

International Bancshares (NASDAQ:IBOC) last released its earnings results on Thursday, November 7th. The bank reported $1.60 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.20%. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 14th. International Bancshares’s dividend payout ratio (DPR) is currently 21.77%.

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.