SOL Capital Management CO Lowers Stake in International Bancshares Co. (NASDAQ:IBOC)

SOL Capital Management CO lessened its stake in International Bancshares Co. (NASDAQ:IBOC) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,525 shares of the bank’s stock after selling 20,000 shares during the period. International Bancshares accounts for about 1.5% of SOL Capital Management CO’s portfolio, making the stock its 15th largest position. SOL Capital Management CO’s holdings in International Bancshares were worth $13,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of International Bancshares by 5,673.7% during 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. KBC Group NV grew its holdings in International Bancshares by 71.2% during the 4th quarter. KBC Group NV now owns 2,612 shares of the bank’s stock worth $165,000 after acquiring an additional 1,086 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in International Bancshares during the 3rd quarter valued at about $202,000. Blue Trust Inc. raised its holdings in shares of International Bancshares by 564.8% in the 3rd 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 in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of International Bancshares in the 3rd quarter worth approximately $222,000. Institutional investors own 65.91% of the company’s stock.

Insider Buying and Selling at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.93% of the stock is owned by insiders.

International Bancshares Stock Performance

Shares of IBOC stock opened at $67.26 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 10.46 and a beta of 0.93. International Bancshares Co. has a 52-week low of $48.85 and a 52-week high of $76.91. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $67.34 and its 200 day moving average is $64.47.

International Bancshares (NASDAQ:IBOC) last announced 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 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.