Westover Capital Advisors LLC Boosts Stake in International Bancshares Co. (NASDAQ:IBOC)

Westover Capital Advisors LLC increased its holdings in International Bancshares Co. (NASDAQ:IBOC) by 698.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,400 shares of the bank’s stock after purchasing an additional 44,084 shares during the period. Westover Capital Advisors LLC’s holdings in International Bancshares were worth $2,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Trust Walden Corp raised its position in shares of International Bancshares by 77.2% during the 4th quarter. Boston Trust Walden Corp now owns 1,020,506 shares of the bank’s stock valued at $55,434,000 after buying an additional 444,674 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in International Bancshares by 1,035.5% in the third quarter. Jupiter Asset Management Ltd. now owns 101,676 shares of the bank’s stock worth $4,407,000 after buying an additional 92,722 shares during the last quarter. American Century Companies Inc. raised its holdings in International Bancshares by 12.2% in the third quarter. American Century Companies Inc. now owns 570,126 shares of the bank’s stock worth $24,709,000 after buying an additional 62,148 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of International Bancshares by 46.7% during the third quarter. Brandywine Global Investment Management LLC now owns 188,577 shares of the bank’s stock valued at $8,173,000 after purchasing an additional 60,031 shares during the last quarter. Finally, Reinhart Partners LLC. grew its position in International Bancshares by 10.3% during the fourth quarter. Reinhart Partners LLC. now owns 621,602 shares of the bank’s stock valued at $33,765,000 after buying an additional 57,944 shares during the period. 65.91% of the stock is owned by institutional investors.

International Bancshares Trading Up 2.2 %

Shares of International Bancshares stock traded up $1.23 during trading on Thursday, hitting $58.40. The stock had a trading volume of 348,504 shares, compared to its average volume of 230,640. The firm’s fifty day simple moving average is $54.10 and its 200-day simple moving average is $51.07. The stock has a market cap of $3.63 billion, a PE ratio of 8.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.70 and a quick ratio of 0.70. International Bancshares Co. has a 12 month low of $39.10 and a 12 month high of $58.90.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share for the quarter. International Bancshares had a net margin of 42.45% and a return on equity of 18.32%. The company had revenue of $211.03 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

Insider Activity at International Bancshares

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of International Bancshares stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the completion of the sale, the director now owns 1,312,245 shares in the company, valued at approximately $71,149,923.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.45% of the stock is currently owned by company insiders.

About International Bancshares

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.