International Bancshares Co. (NASDAQ:IBOC) Sees Large Decline in Short Interest

International Bancshares Co. (NASDAQ:IBOC) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 792,500 shares, a drop of 17.4% from the September 15th total of 959,700 shares. Based on an average trading volume of 222,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 1.5% of the company’s stock are short sold.

International Bancshares Price Performance

Shares of IBOC opened at $63.49 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. International Bancshares has a 1-year low of $42.25 and a 1-year high of $69.87. The stock has a market cap of $3.95 billion, a PE ratio of 9.69 and a beta of 0.87. The firm has a fifty day moving average price of $60.40 and a 200 day moving average price of $58.91.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Thursday, August 1st. The bank reported $1.56 earnings per share (EPS) for the quarter. The firm had revenue of $207.75 million during the quarter. International Bancshares had a return on equity of 16.66% and a net margin of 39.64%.

International Bancshares Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.66 per share. The ex-dividend date was Wednesday, August 14th. This represents a dividend yield of 2.3%. International Bancshares’s dividend payout ratio (DPR) is presently 20.15%.

Institutional Trading of International Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning increased its stake in International Bancshares by 47.9% in the third quarter. Creative Planning now owns 5,200 shares of the bank’s stock valued at $311,000 after purchasing an additional 1,684 shares during the period. Inspire Investing LLC grew its holdings in shares of International Bancshares by 12.2% during the third quarter. Inspire Investing LLC now owns 6,887 shares of the bank’s stock worth $412,000 after buying an additional 750 shares during the last quarter. Reinhart Partners LLC. increased its position in International Bancshares by 5.6% in the 3rd quarter. Reinhart Partners LLC. now owns 682,144 shares of the bank’s stock valued at $40,785,000 after acquiring an additional 36,284 shares during the period. CWM LLC raised its stake in International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after acquiring an additional 2,156 shares during the last quarter. Finally, Diversified Trust Co lifted its position in International Bancshares by 2.9% during the 3rd quarter. Diversified Trust Co now owns 17,555 shares of the bank’s stock worth $1,050,000 after acquiring an additional 496 shares during the period. 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.