Quantitative Systematic Strategies LLC Sells 13,110 Shares of International Bancshares Corp (IBOC)

Quantitative Systematic Strategies LLC lowered its stake in shares of International Bancshares Corp (NASDAQ:IBOC) by 58.9% during the first quarter, HoldingsChannel.com reports. The fund owned 9,166 shares of the bank’s stock after selling 13,110 shares during the period. Quantitative Systematic Strategies LLC’s holdings in International Bancshares were worth $349,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in International Bancshares in the fourth quarter valued at $41,000. Tower Research Capital LLC TRC boosted its stake in International Bancshares by 1,328.9% in the third quarter. Tower Research Capital LLC TRC now owns 3,415 shares of the bank’s stock valued at $154,000 after acquiring an additional 3,176 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in International Bancshares by 307.1% in the fourth 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 acquired a new position in International Bancshares in the fourth quarter valued at $223,000. Finally, Jane Street Group LLC acquired a new position in International Bancshares in the third quarter valued at $235,000. 60.24% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub upgraded shares of International Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th.

Shares of IBOC opened at $40.57 on Friday. International Bancshares Corp has a fifty-two week low of $32.56 and a fifty-two week high of $47.95. The stock has a market cap of $2.65 billion, a PE ratio of 12.45 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.77.

International Bancshares (NASDAQ:IBOC) last announced its earnings results on Wednesday, February 27th. The bank reported $0.88 earnings per share for the quarter. International Bancshares had a net margin of 34.23% and a return on equity of 11.50%. The business had revenue of $148.00 million during the quarter.

The firm also recently announced a semiannual dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.50 per share. This is an increase from International Bancshares’s previous semiannual dividend of $0.42. The ex-dividend date of this dividend was Friday, March 29th. This represents a dividend yield of 2.5%.

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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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Want to see what other hedge funds are holding IBOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Bancshares Corp (NASDAQ:IBOC).

Institutional Ownership by Quarter for International Bancshares (NASDAQ:IBOC)

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