KLP Kapitalforvaltning AS Makes New $720,000 Investment in International Bancshares Co. (NASDAQ:IBOC)

KLP Kapitalforvaltning AS acquired a new stake in shares of International Bancshares Co. (NASDAQ:IBOC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 11,400 shares of the bank’s stock, valued at approximately $720,000.

Several other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in International Bancshares by 57.0% during the 4th quarter. American Century Companies Inc. now owns 1,753,478 shares of the bank’s stock valued at $110,750,000 after purchasing an additional 636,533 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of International Bancshares by 11.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,412,533 shares of the bank’s stock worth $89,216,000 after purchasing an additional 144,684 shares during the period. Denali Advisors LLC boosted its position in International Bancshares by 2,051.6% in the fourth quarter. Denali Advisors LLC now owns 101,016 shares of the bank’s stock valued at $6,380,000 after buying an additional 96,321 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in International Bancshares by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,078,168 shares of the bank’s stock worth $131,257,000 after buying an additional 81,386 shares during the period. Finally, Sei Investments Co. purchased a new position in International Bancshares during the 4th quarter worth approximately $4,448,000. 65.91% of the stock is owned by institutional investors and hedge funds.

International Bancshares Stock Performance

Shares of NASDAQ IBOC opened at $62.58 on Wednesday. The company has a 50 day simple moving average of $64.64 and a two-hundred day simple moving average of $65.15. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 9.73 and a beta of 0.88. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. International Bancshares Co. has a 12 month low of $51.80 and a 12 month high of $76.91.

International Bancshares (NASDAQ:IBOC) last posted its earnings results on Thursday, February 27th. The bank reported $1.85 earnings per share (EPS) for the quarter. International Bancshares had a net margin of 38.65% and a return on equity of 15.62%.

International Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.47%. This is a positive change from International Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 14th. International Bancshares’s dividend payout ratio (DPR) is 21.31%.

International Bancshares 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.