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

International Bancshares Co. (NASDAQ:IBOC) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 816,800 shares, a decrease of 11.5% from the August 15th total of 923,100 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 213,400 shares, the days-to-cover ratio is currently 3.8 days.

International Bancshares Stock Up 0.1 %

Shares of IBOC stock traded up $0.04 during mid-day trading on Tuesday, hitting $43.36. The stock had a trading volume of 166,451 shares, compared to its average volume of 240,936. International Bancshares has a 12-month low of $39.10 and a 12-month high of $53.71. The firm has a market capitalization of $2.69 billion, a P/E ratio of 6.86 and a beta of 0.99. The firm’s 50-day moving average is $46.36 and its two-hundred day moving average is $44.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.69 and a quick ratio of 0.69.

International Bancshares (NASDAQ:IBOC) last issued its earnings results on Thursday, August 3rd. The bank reported $1.62 earnings per share for the quarter. International Bancshares had a return on equity of 18.73% and a net margin of 44.20%.

International Bancshares Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.63 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 10th. International Bancshares’s dividend payout ratio is 20.06%.

Institutional Investors Weigh In On International Bancshares

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of International Bancshares in the 4th quarter worth $27,000. US Bancorp DE lifted its stake in shares of International Bancshares by 113.4% during the 1st quarter. US Bancorp DE now owns 798 shares of the bank’s stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of International Bancshares by 64.6% during the 4th quarter. Quadrant Capital Group LLC now owns 861 shares of the bank’s stock worth $39,000 after purchasing an additional 338 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of International Bancshares during the 1st quarter worth $45,000. Finally, Quantbot Technologies LP purchased a new stake in shares of International Bancshares during the 1st quarter worth $50,000. 63.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on International Bancshares in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.

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.