International Bancshares Co. (NASDAQ:IBOC) Sees Significant Drop in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 785,900 shares, a drop of 23.0% from the March 15th total of 1,020,000 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 331,500 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of IBOC. JPMorgan Chase & Co. grew its stake in shares of International Bancshares by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank’s stock valued at $10,483,000 after buying an additional 24,902 shares during the period. Stifel Financial Corp purchased a new stake in International Bancshares in the 3rd quarter worth about $508,000. Barclays PLC lifted its stake in shares of International Bancshares by 86.6% during the 3rd quarter. Barclays PLC now owns 111,823 shares of the bank’s stock valued at $6,686,000 after buying an additional 51,887 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of International Bancshares in the fourth quarter valued at $320,000. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Stock Down 0.7 %

NASDAQ:IBOC traded down $0.44 on Monday, hitting $58.63. 182,483 shares of the company’s stock were exchanged, compared to its average volume of 256,068. The company has a market cap of $3.65 billion, a P/E ratio of 9.12 and a beta of 0.80. International Bancshares has a 52 week low of $53.33 and a 52 week high of $76.91. The firm has a 50-day moving average price of $62.16 and a 200-day moving average price of $64.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Thursday, February 27th. The bank reported $1.85 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

International Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.78%. This is a boost from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 14th. International Bancshares’s dividend payout ratio is currently 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.