New York Life Investment Management LLC Has $360,000 Stake in International Bancshares Co. (NASDAQ:IBOC)

New York Life Investment Management LLC decreased its stake in International Bancshares Co. (NASDAQ:IBOCFree Report) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,315 shares of the bank’s stock after selling 1,310 shares during the quarter. New York Life Investment Management LLC’s holdings in International Bancshares were worth $360,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in International Bancshares by 114.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 56,091 shares of the bank’s stock valued at $2,479,000 after buying an additional 29,918 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in International Bancshares by 17.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,394 shares of the bank’s stock valued at $1,211,000 after buying an additional 4,057 shares in the last quarter. Swiss National Bank raised its position in International Bancshares by 0.8% in the 2nd quarter. Swiss National Bank now owns 121,700 shares of the bank’s stock valued at $5,379,000 after purchasing an additional 1,000 shares during the last quarter. Teacher Retirement System of Texas raised its position in International Bancshares by 68.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 48,707 shares of the bank’s stock valued at $2,111,000 after purchasing an additional 19,768 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in International Bancshares by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,522 shares of the bank’s stock valued at $1,128,000 after purchasing an additional 1,742 shares during the last quarter. Institutional investors and hedge funds own 63.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

Check Out Our Latest Stock Report on International Bancshares

International Bancshares Trading Up 1.6 %

Shares of IBOC opened at $53.68 on Monday. The stock has a fifty day moving average price of $52.27 and a two-hundred day moving average price of $47.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.68 and a current ratio of 0.68. International Bancshares Co. has a 52-week low of $39.10 and a 52-week high of $55.37. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 8.13 and a beta of 0.96.

International Bancshares Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be given a $0.66 dividend. This is an increase from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a yield of 2.5%. International Bancshares’s payout ratio is presently 19.09%.

Insider Buying and Selling at International Bancshares

In other news, Director Antonio R. Sanchez, Jr. sold 45,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $44.79, for a total transaction of $2,015,550.00. Following the completion of the sale, the director now owns 1,367,245 shares in the company, valued at $61,238,903.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Antonio R. Sanchez, Jr. sold 45,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $44.79, for a total transaction of $2,015,550.00. Following the completion of the sale, the director now owns 1,367,245 shares in the company, valued at $61,238,903.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Antonio R. Sanchez, Jr. sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $47.77, for a total value of $1,433,100.00. Following the sale, the director now owns 1,442,245 shares of the company’s stock, valued at approximately $68,896,043.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock worth $4,675,150. 14.45% of the stock is currently owned by insiders.

International Bancshares Profile

(Free Report)

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.

See Also

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

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