Kovack Advisors Inc. Sells 5,680 Shares of International Bancshares Co. (NASDAQ:IBOC)

Kovack Advisors Inc. decreased its position in International Bancshares Co. (NASDAQ:IBOC) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 165,294 shares of the bank’s stock after selling 5,680 shares during the quarter. International Bancshares comprises about 1.1% of Kovack Advisors Inc.’s holdings, making the stock its 9th biggest position. Kovack Advisors Inc.’s holdings in International Bancshares were worth $8,979,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IBOC. Nisa Investment Advisors LLC boosted its stake in shares of International Bancshares by 1.0% during the third quarter. Nisa Investment Advisors LLC now owns 31,365 shares of the bank’s stock valued at $1,359,000 after acquiring an additional 305 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of International Bancshares by 8.3% during the third quarter. Alps Advisors Inc. now owns 7,635 shares of the bank’s stock valued at $331,000 after acquiring an additional 585 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of International Bancshares by 37.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock valued at $113,000 after acquiring an additional 711 shares during the last quarter. Cresta Advisors Ltd. boosted its stake in shares of International Bancshares by 1.8% during the fourth quarter. Cresta Advisors Ltd. now owns 50,468 shares of the bank’s stock valued at $2,741,000 after acquiring an additional 890 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th.

Insiders Place Their Bets

In other news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $54.22, for a total value of $2,168,800.00. Following the transaction, the director now directly owns 1,312,245 shares of the company’s stock, valued at approximately $71,149,923.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.45% of the stock is owned by corporate insiders.

International Bancshares Price Performance

Shares of IBOC traded up $0.18 during trading hours on Friday, reaching $56.15. 158,049 shares of the company traded hands, compared to its average volume of 227,222. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.49 billion, a PE ratio of 8.48 and a beta of 0.94. International Bancshares Co. has a fifty-two week low of $39.10 and a fifty-two week high of $56.80. The stock has a fifty day simple moving average of $53.81 and a 200 day simple moving average of $50.74.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings results on Monday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%. The firm had revenue of $211.03 million for the quarter.

International Bancshares Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were paid a $0.66 dividend. This represents a yield of 2.5%. This is a positive change from International Bancshares’s previous semi-annual dividend of $0.63. The ex-dividend date was Wednesday, February 14th. International Bancshares’s dividend payout ratio (DPR) is presently 19.94%.

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.