International Bancshares Co. (NASDAQ:IBOC) Short Interest Update

International Bancshares Co. (NASDAQ:IBOC) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 692,900 shares, a drop of 12.7% from the October 15th total of 793,400 shares. Based on an average daily trading volume, of 205,300 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.3% of the company’s stock are sold short.

International Bancshares Stock Down 0.1 %

Shares of IBOC traded down $0.07 during trading hours on Monday, hitting $70.82. The company had a trading volume of 140,191 shares, compared to its average volume of 222,174. The firm has a fifty day moving average price of $62.80 and a 200-day moving average price of $60.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.01 and a beta of 0.87. International Bancshares has a 52-week low of $44.24 and a 52-week high of $73.82.

Insider Activity

In other International Bancshares news, CEO Dennis E. Nixon sold 34,815 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the sale, the chief executive officer now owns 965,185 shares in the company, valued at approximately $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.93% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of International Bancshares by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock worth $366,673,000 after purchasing an additional 152,165 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in International Bancshares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank’s stock valued at $119,388,000 after purchasing an additional 55,406 shares during the last quarter. Boston Trust Walden Corp boosted its stake in International Bancshares by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,476,460 shares of the bank’s stock valued at $84,468,000 after purchasing an additional 18,362 shares during the last quarter. Geode Capital Management LLC boosted its stake in International Bancshares by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,352,406 shares of the bank’s stock valued at $80,874,000 after purchasing an additional 9,986 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in International Bancshares by 21.6% during the 2nd quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock valued at $56,817,000 after purchasing an additional 176,334 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

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.