Polaris Capital Management LLC Sells 29,600 Shares of International Bancshares Co. (NASDAQ:IBOC)

Polaris Capital Management LLC cut its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 677,808 shares of the bank’s stock after selling 29,600 shares during the period. International Bancshares comprises about 2.1% of Polaris Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Polaris Capital Management LLC owned about 1.09% of International Bancshares worth $42,810,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CWM LLC increased its position in shares of International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock worth $131,000 after purchasing an additional 2,156 shares in the last quarter. KBC Group NV raised its position in shares of International Bancshares by 71.2% during the fourth quarter. KBC Group NV now owns 2,612 shares of the bank’s stock worth $165,000 after acquiring an additional 1,086 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in International Bancshares in the third quarter valued at about $202,000. Blue Trust Inc. increased its position in International Bancshares by 564.8% in the third quarter. Blue Trust Inc. now owns 3,477 shares of the bank’s stock worth $199,000 after purchasing an additional 2,954 shares during the period. Finally, Versor Investments LP bought a new stake in International Bancshares during the 3rd quarter worth about $222,000. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Stock Down 0.6 %

Shares of NASDAQ IBOC opened at $66.25 on Tuesday. International Bancshares Co. has a 1 year low of $48.85 and a 1 year high of $76.91. The firm’s 50-day moving average is $66.42 and its 200-day moving average is $64.50. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $4.12 billion, a PE ratio of 10.30 and a beta of 0.93.

International Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, February 14th. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27. International Bancshares’s payout ratio is currently 20.53%.

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.