Hennion & Walsh Asset Management Inc. Grows Position in International Bancshares Co. (NASDAQ:IBOC)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 11.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,274 shares of the bank’s stock after purchasing an additional 649 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in International Bancshares were worth $396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Foundry Partners LLC bought a new stake in shares of International Bancshares in the 3rd quarter valued at about $8,937,000. AQR Capital Management LLC raised its stake in shares of International Bancshares by 45.7% during the 2nd quarter. AQR Capital Management LLC now owns 316,260 shares of the bank’s stock worth $17,983,000 after acquiring an additional 99,164 shares in the last quarter. Azora Capital LP grew its position in International Bancshares by 7.2% during the 3rd quarter. Azora Capital LP now owns 905,453 shares of the bank’s stock worth $54,137,000 after purchasing an additional 60,573 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in International Bancshares by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,996,782 shares of the bank’s stock worth $119,388,000 after purchasing an additional 55,406 shares during the last quarter. Finally, Barclays PLC grew its position in International Bancshares by 86.6% during the 3rd quarter. Barclays PLC now owns 111,823 shares of the bank’s stock worth $6,686,000 after purchasing an additional 51,887 shares during the last quarter. Institutional investors own 65.91% of the company’s stock.

International Bancshares Stock Up 1.1 %

IBOC stock opened at $66.71 on Wednesday. The firm’s fifty day simple moving average is $68.00 and its 200-day simple moving average is $64.11. The company has a market capitalization of $4.15 billion, a P/E ratio of 10.37 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. International Bancshares Co. has a 12 month low of $48.85 and a 12 month high of $76.91.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Thursday, November 7th. The bank reported $1.60 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

Insiders Place Their Bets

In other news, CEO Dennis E. Nixon sold 34,815 shares of the 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 completion of the sale, the chief executive officer now directly owns 965,185 shares in the company, valued at $69,667,053.30. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.93% of the stock is currently owned by company insiders.

International Bancshares Company 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.