Mirae Asset Global Investments Co. Ltd. Purchases 6,107 Shares of International Bancshares Co. (NASDAQ:IBOC)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,712 shares of the bank’s stock after acquiring an additional 6,107 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in International Bancshares were worth $2,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IBOC. CWM LLC increased its holdings in International Bancshares by 5,673.7% in the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock worth $131,000 after buying an additional 2,156 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of International Bancshares by 12.2% during the 3rd quarter. Inspire Investing LLC now owns 6,887 shares of the bank’s stock valued at $412,000 after acquiring an additional 750 shares during the last quarter. Creative Planning grew its stake in shares of International Bancshares by 47.9% in the third quarter. Creative Planning now owns 5,200 shares of the bank’s stock worth $311,000 after acquiring an additional 1,684 shares during the period. Tamar Securities LLC raised its holdings in shares of International Bancshares by 7.0% during the third quarter. Tamar Securities LLC now owns 602,142 shares of the bank’s stock valued at $36,002,000 after purchasing an additional 39,234 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in International Bancshares by 564.8% during the third quarter. Blue Trust Inc. now owns 3,477 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,954 shares during the period. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Bancshares

In related news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the transaction, the chief executive officer now owns 965,185 shares of the company’s stock, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.93% of the company’s stock.

International Bancshares Trading Down 1.8 %

Shares of IBOC stock opened at $66.67 on Monday. The stock has a market capitalization of $4.15 billion, a P/E ratio of 10.37 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $66.42 and its 200 day moving average is $64.52. International Bancshares Co. has a 12-month low of $48.85 and a 12-month high of $76.91.

International Bancshares (NASDAQ:IBOC) last released its quarterly earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share (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 company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.20%. This is a boost from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, February 14th. International Bancshares’s dividend payout ratio (DPR) is presently 21.77%.

International Bancshares 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.