SOL Capital Management CO Trims Holdings in International Bancshares Co. (NASDAQ:IBOC)

SOL Capital Management CO lowered its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,525 shares of the bank’s stock after selling 20,000 shares during the quarter. International Bancshares accounts for about 1.5% of SOL Capital Management CO’s investment portfolio, making the stock its 15th largest position. SOL Capital Management CO owned approximately 0.34% of International Bancshares worth $13,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its stake in International Bancshares by 3.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 5,625 shares of the bank’s stock worth $336,000 after purchasing an additional 208 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of International Bancshares by 4.3% in the third quarter. Quantinno Capital Management LP now owns 5,465 shares of the bank’s stock worth $327,000 after buying an additional 223 shares in the last quarter. Hancock Whitney Corp boosted its position in shares of International Bancshares by 1.7% during the third quarter. Hancock Whitney Corp now owns 19,012 shares of the bank’s stock worth $1,137,000 after acquiring an additional 314 shares during the last quarter. State of Alaska Department of Revenue grew its stake in International Bancshares by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 6,188 shares of the bank’s stock valued at $369,000 after acquiring an additional 420 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP increased its holdings in International Bancshares by 6.8% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 7,647 shares of the bank’s stock valued at $457,000 after acquiring an additional 487 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the sale, the chief executive officer now directly owns 965,185 shares of the company’s stock, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.93% of the company’s stock.

International Bancshares Stock Up 0.9 %

Shares of IBOC stock opened at $67.26 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 10.46 and a beta of 0.93. The company’s fifty day simple moving average is $67.34 and its two-hundred day simple moving average is $64.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. International Bancshares Co. has a 52 week low of $48.85 and a 52 week high of $76.91.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Thursday, November 7th. The bank reported $1.60 EPS for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

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.