Polaris Capital Management LLC Has $42.81 Million Stake in International Bancshares Co. (NASDAQ:IBOC)

Polaris Capital Management LLC decreased its position in International Bancshares Co. (NASDAQ:IBOC) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 677,808 shares of the bank’s stock after selling 29,600 shares during the quarter. International Bancshares accounts for approximately 2.1% of Polaris Capital Management LLC’s holdings, making the stock its 12th largest holding. Polaris Capital Management LLC’s holdings in International Bancshares were worth $42,810,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of IBOC. CWM LLC raised its position in International Bancshares by 5,673.7% in the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after buying an additional 2,156 shares during the last quarter. KBC Group NV raised its stake in shares of 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 purchasing an additional 1,086 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in International Bancshares during the third quarter worth $202,000. Blue Trust Inc. lifted its stake in International Bancshares by 564.8% in the third quarter. Blue Trust Inc. now owns 3,477 shares of the bank’s stock valued at $199,000 after acquiring an additional 2,954 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of International Bancshares in the 3rd quarter valued at about $222,000. 65.91% of the stock is currently owned by institutional investors.

International Bancshares Price Performance

NASDAQ:IBOC opened at $66.25 on Tuesday. The company has a market cap of $4.12 billion, a P/E ratio of 10.30 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s fifty day moving average price is $66.42 and its two-hundred day moving average price is $64.50. International Bancshares Co. has a one year low of $48.85 and a one year high of $76.91.

International Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.23%. This is a positive change 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 currently 20.53%.

About International Bancshares

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.