International Bancshares Co. (NASDAQ:IBOC) is Kovack Advisors Inc.’s 9th Largest Position

Kovack Advisors Inc. cut its holdings in shares of International Bancshares Co. (NASDAQ:IBOC) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,294 shares of the bank’s stock after selling 5,680 shares during the quarter. International Bancshares accounts for about 1.1% of Kovack Advisors Inc.’s portfolio, making the stock its 9th largest holding. Kovack Advisors Inc. owned about 0.27% of International Bancshares worth $8,979,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of International Bancshares by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,373,927 shares of the bank’s stock worth $276,246,000 after purchasing an additional 32,145 shares during the period. North Reef Capital Management LP grew its stake in shares of International Bancshares by 2.5% during the 3rd 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. Charles Schwab Investment Management Inc. grew its stake in shares of International Bancshares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,859 shares of the bank’s stock worth $65,437,000 after purchasing an additional 42,156 shares during the period. Boston Trust Walden Corp grew its stake in shares of International Bancshares by 77.2% during the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock worth $55,434,000 after purchasing an additional 444,674 shares during the period. Finally, Reinhart Partners LLC. grew its stake in International Bancshares by 10.3% in the 4th quarter. Reinhart Partners LLC. now owns 621,602 shares of the bank’s stock valued at $33,765,000 after acquiring an additional 57,944 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at International Bancshares

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction on Monday, March 11th. The stock was sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the transaction, the director now owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.45% of the company’s stock.

International Bancshares Price Performance

IBOC stock traded up $0.18 during midday trading on Friday, reaching $56.15. The stock had a trading volume of 158,049 shares, compared to its average volume of 227,222. The company’s fifty day simple moving average is $53.81 and its 200 day simple moving average is $50.74. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 8.48 and a beta of 0.94. International Bancshares Co. has a 52-week low of $39.10 and a 52-week high of $56.80.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. The company had revenue of $211.03 million for the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%.

International Bancshares Increases Dividend

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

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.