State of Alaska Department of Revenue Cuts Stake in International Bancshares Co. (NASDAQ:IBOC)

State of Alaska Department of Revenue trimmed its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 10.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,768 shares of the bank’s stock after selling 640 shares during the quarter. State of Alaska Department of Revenue’s holdings in International Bancshares were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC boosted its holdings in shares of International Bancshares by 40.7% during the 1st quarter. MetLife Investment Management LLC now owns 63,070 shares of the bank’s stock valued at $2,662,000 after acquiring an additional 18,235 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of International Bancshares by 4.6% during the 1st quarter. Rhumbline Advisers now owns 181,576 shares of the bank’s stock valued at $7,664,000 after acquiring an additional 7,989 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of International Bancshares by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,508 shares of the bank’s stock worth $823,000 after purchasing an additional 1,860 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of International Bancshares by 11.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 31,506 shares of the bank’s stock worth $1,364,000 after purchasing an additional 3,132 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of International Bancshares by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 28,422 shares of the bank’s stock worth $1,200,000 after purchasing an additional 465 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

NASDAQ IBOC opened at $52.48 on Friday. International Bancshares Co. has a 12 month low of $39.10 and a 12 month high of $56.53. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 7.93 and a beta of 0.94. The company’s 50 day moving average is $53.49 and its two-hundred day moving average is $49.96. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05.

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

International Bancshares Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.66 per share. This is a boost from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date was Wednesday, February 14th. This represents a yield of 2.5%. International Bancshares’s dividend payout ratio (DPR) is presently 19.94%.

Insiders Place Their Bets

In other International Bancshares news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now directly owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. 14.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.