New Mexico Educational Retirement Board Boosts Stake in International Bancshares Co. (NASDAQ:IBOC)

Posted by Defense World Staff on Aug 3rd, 2023

New Mexico Educational Retirement Board boosted its position in shares of International Bancshares Co. (NASDAQ:IBOC – Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,600 shares of the bank’s stock after purchasing an additional 1,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in International Bancshares were worth $411,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in International Bancshares during the fourth quarter worth $27,000. Quadrant Capital Group LLC boosted its position in International Bancshares by 64.6% during the fourth quarter. Quadrant Capital Group LLC now owns 861 shares of the bank’s stock worth $39,000 after purchasing an additional 338 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in International Bancshares during the first quarter worth $45,000. Quantbot Technologies LP purchased a new stake in International Bancshares during the first quarter worth $50,000. Finally, Allspring Global Investments Holdings LLC boosted its position in International Bancshares by 31.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,585 shares of the bank’s stock worth $68,000 after purchasing an additional 377 shares in the last quarter. 64.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on IBOC

International Bancshares Stock Performance

NASDAQ IBOC opened at $49.19 on Thursday. International Bancshares Co. has a fifty-two week low of $39.10 and a fifty-two week high of $53.71. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 8.82 and a beta of 0.98. The business has a fifty day moving average of $46.18 and a 200-day moving average of $44.86. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.07.

International Bancshares (NASDAQ:IBOC – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The bank reported $1.63 earnings per share for the quarter. International Bancshares had a return on equity of 16.89% and a net margin of 43.47%.

International Bancshares Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a $0.63 dividend. The ex-dividend date is Thursday, August 10th. This represents a dividend yield of 2.5%. International Bancshares’s dividend payout ratio (DPR) is 22.58%.

International Bancshares Company Profile

(Free Report)

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.