Cresta Advisors Ltd. Sells 757 Shares of International Bancshares Co. (NASDAQ:IBOC)

Cresta Advisors Ltd. trimmed its position in International Bancshares Co. (NASDAQ:IBOC) by 1.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 56,395 shares of the bank’s stock after selling 757 shares during the period. International Bancshares comprises 1.8% of Cresta Advisors Ltd.’s investment portfolio, making the stock its 15th biggest position. Cresta Advisors Ltd.’s holdings in International Bancshares were worth $3,372,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of International Bancshares by 141.0% during the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after acquiring an additional 306 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of International Bancshares during the 2nd quarter worth $39,000. CWM LLC boosted its holdings in shares of 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 during the last quarter. Oppenheimer Asset Management Inc. bought a new position in International Bancshares during the third quarter valued at about $202,000. Finally, Versor Investments LP purchased a new stake in International Bancshares during the third quarter worth about $222,000. Institutional investors own 65.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Dennis E. Nixon sold 34,815 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the sale, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.93% of the stock is currently owned by insiders.

International Bancshares Stock Performance

Shares of IBOC stock opened at $70.50 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 10.96 and a beta of 0.90. International Bancshares Co. has a 52 week low of $48.62 and a 52 week high of $76.91. The firm’s 50-day simple moving average is $66.74 and its two-hundred day simple moving average is $62.21.

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.