American International Group Inc. Decreases Stock Position in International Bancshares Co. (NASDAQ:IBOC)

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. lessened its position in shares of International Bancshares Co. (NASDAQ:IBOC – Get Rating) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,042 shares of the bank’s stock after selling 1,342 shares during the period. American International Group Inc. owned 0.17% of International Bancshares worth $4,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IBOC. Quantbot Technologies LP purchased a new stake in International Bancshares during the first quarter valued at about $50,000. Point72 Hong Kong Ltd bought a new position in International Bancshares in the 1st quarter worth approximately $82,000. Royal Bank of Canada grew its stake in International Bancshares by 326.4% in the 3rd quarter. Royal Bank of Canada now owns 2,452 shares of the bank’s stock valued at $105,000 after buying an additional 1,877 shares in the last quarter. SG Americas Securities LLC bought a new stake in International Bancshares during the 4th quarter valued at $139,000. Finally, Laffer Tengler Investments purchased a new stake in shares of International Bancshares during the fourth quarter worth $165,000. Institutional investors own 65.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on International Bancshares in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

International Bancshares Price Performance

IBOC stock opened at $46.24 on Friday. The firm has a 50 day moving average of $42.54 and a 200-day moving average of $45.26. The firm has a market capitalization of $2.87 billion, a P/E ratio of 8.29 and a beta of 0.98. International Bancshares Co. has a 12 month low of $38.00 and a 12 month high of $53.71. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.07.

International Bancshares Profile

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International Bancshares Corp. is a financial holding company, which provides banking services for commercial, consumer, and international customers of South, Central, and Southeast Texas and the State of Oklahoma. It engages in the business of banking, including the acceptance of checking and savings deposits and the making of commercial, real estate, personal, home improvement, automobile and other installment and term loans.