International Bancshares Co. (NASDAQ:IBOC – Get a rating) declared a semi-annual dividend on Thursday, August 4 Zacks reports. Shareholders of record on Tuesday August 16 will receive a dividend of 0.60 per share from the bank on Monday August 29. This represents a dividend yield of 2.7%. The ex-dividend date is Monday, August 15.
International Bancshares has increased its dividend payout by an average of 15.3% per year over the past three years and has increased its dividend every year for the past 12 consecutive years.
International Banking Equity Price Performance
NASDAQ: IBOC opened at $45.63 on Friday. The company’s 50-day moving average is $41.49 and its 200-day moving average is $41.63. International Bancshares has a 12-month low of $38.00 and a 12-month high of $46.67. The company has a market capitalization of $2.84 billion, a P/E ratio of 11.79 and a beta of 1.04. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt ratio of 0.27.
Institutional Trading of International Banking Equities
Hedge funds have recently changed their positions in the business. Vanguard Group Inc. increased its stake in International Bancshares by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,168,908 shares of the bank worth $260,390,000 after acquiring an additional 96,002 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in International Bancshares by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,228,382 shares of the bank worth $178,482,000 after purchasing an additional 54,029 shares during the period. Wellington Management Group LLP increased its holding in shares of International Bancshares by 9.4% in the 1st quarter. Wellington Management Group LLP now owns 3,303,161 shares in the bank worth $139,427,000 after acquiring an additional 284,432 shares in the last quarter. State Street Corp increased its stake in shares of International Bancshares by 12.2% in the 1st quarter. State Street Corp now owns 2,566,311 shares of the bank worth $108,324,000 after purchasing an additional 279,303 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in International Bancshares by 6.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,307,496 shares of the bank valued at $55,190,000 after purchasing an additional 80,305 shares in the last quarter. 63.39% of the shares are currently held by hedge funds and other institutional investors.
International Bancshares Company Profile
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checks and savings deposits; and offers commercial, real estate, personal, home improvement, auto and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans and foreign exchange services.
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