International Bancshares Co. (NASDAQ:IBOC) Sees Significant Drop in Short Interest

International Bancshares Co. (NASDAQ:IBOC) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 865,100 shares, a drop of 25.4% from the February 13th total of 1,160,000 shares. Based on an average daily trading volume, of 297,400 shares, the days-to-cover ratio is presently 2.9 days. Approximately 1.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of International Bancshares in the fourth quarter worth about $88,000. Sterling Capital Management LLC raised its stake in shares of International Bancshares by 836.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,741 shares of the bank’s stock worth $110,000 after purchasing an additional 1,555 shares during the last quarter. KBC Group NV raised its stake in shares of International Bancshares by 71.2% in the fourth quarter. KBC Group NV now owns 2,612 shares of the bank’s stock worth $165,000 after purchasing an additional 1,086 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of International Bancshares in the third quarter worth about $202,000. Finally, Cetera Investment Advisers purchased a new position in shares of International Bancshares in the fourth quarter worth about $212,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Stock Down 1.1 %

International Bancshares stock traded down $0.71 during midday trading on Monday, reaching $62.45. The company’s stock had a trading volume of 501,928 shares, compared to its average volume of 229,420. The stock’s 50-day simple moving average is $64.96 and its 200-day simple moving average is $64.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. International Bancshares has a 52-week low of $51.80 and a 52-week high of $76.91. The stock has a market capitalization of $3.89 billion, a P/E ratio of 9.71 and a beta of 0.88.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, February 27th. The bank reported $1.85 EPS for the quarter. International Bancshares had a return on equity of 15.62% and a net margin of 38.65%.

International Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from International Bancshares’s previous quarterly dividend of $0.27. This represents a $2.80 dividend on an annualized basis and a yield of 4.48%. International Bancshares’s dividend payout ratio (DPR) is 21.31%.

International Bancshares Company 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.