Retirement Systems of Alabama decreased its position in shares of International Bancshares Corp (NASDAQ:IBOC) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 70,897 shares of the bank’s stock after selling 296 shares during the quarter. Retirement Systems of Alabama owned approximately 0.11% of International Bancshares worth $2,696,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of IBOC. Dupont Capital Management Corp purchased a new stake in shares of International Bancshares in the 4th quarter valued at about $41,000. Meeder Asset Management Inc. raised its holdings in shares of International Bancshares by 307.1% in the 4th quarter. Meeder Asset Management Inc. now owns 6,103 shares of the bank’s stock valued at $210,000 after acquiring an additional 4,604 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of International Bancshares in the 4th quarter valued at about $223,000. Jane Street Group LLC purchased a new stake in shares of International Bancshares in the 3rd quarter valued at about $235,000. Finally, Denali Advisors LLC raised its holdings in shares of International Bancshares by 5,948.3% in the 1st quarter. Denali Advisors LLC now owns 7,016 shares of the bank’s stock valued at $267,000 after acquiring an additional 6,900 shares in the last quarter. Institutional investors own 60.59% of the company’s stock.
Separately, BidaskClub raised International Bancshares from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 8th.
Shares of NASDAQ IBOC traded down $0.74 during trading hours on Wednesday, reaching $40.41. 78,335 shares of the stock traded hands, compared to its average volume of 191,150. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 12.37 and a beta of 1.37. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.34. International Bancshares Corp has a 52-week low of $32.56 and a 52-week high of $47.95.
International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Wednesday, February 27th. The bank reported $0.88 earnings per share for the quarter. The company had revenue of $148.00 million for the quarter. International Bancshares had a return on equity of 11.19% and a net margin of 33.47%.
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International Bancshares Profile
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.
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