International Bancshares Co. (IBOC) Position Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in International Bancshares Co. (NASDAQ:IBOC) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,561 shares of the bank’s stock after selling 8,896 shares during the quarter. Wells Fargo & Company MN owned approximately 0.07% of International Bancshares worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in shares of International Bancshares in the fourth quarter worth about $123,000. Crossmark Global Holdings Inc. bought a new stake in shares of International Bancshares in the fourth quarter worth about $207,000. Cullen Frost Bankers Inc. bought a new stake in shares of International Bancshares in the fourth quarter worth about $285,000. ING Groep NV grew its stake in shares of International Bancshares by 23.2% in the fourth quarter. ING Groep NV now owns 8,175 shares of the bank’s stock worth $325,000 after purchasing an additional 1,541 shares during the last quarter. Finally, Kovack Advisors Inc. bought a new stake in shares of International Bancshares in the fourth quarter worth about $458,000. 58.92% of the stock is currently owned by institutional investors.

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NASDAQ IBOC opened at $39.60 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2,617.45, a P/E ratio of 16.78 and a beta of 1.44. International Bancshares Co. has a 1 year low of $32.50 and a 1 year high of $42.90.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Wednesday, February 28th. The bank reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $134.50 million for the quarter. International Bancshares had a return on equity of 8.75% and a net margin of 27.84%.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, March 29th. This represents a yield of 1.6%.

Separately, BidaskClub cut International Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, January 5th.

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 25,000 shares of International Bancshares stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $40.75, for a total transaction of $1,018,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 17.93% of the company’s stock.

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International Bancshares Company Profile

International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.

Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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