Kovack Advisors Inc. Decreases Position in International Bancshares Co. (NASDAQ:IBOC)

Kovack Advisors Inc. cut its stake in shares of International Bancshares Co. (NASDAQ:IBOC) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,494 shares of the bank’s stock after selling 8,800 shares during the period. International Bancshares accounts for about 1.1% of Kovack Advisors Inc.’s portfolio, making the stock its 13th biggest position. Kovack Advisors Inc. owned about 0.25% of International Bancshares worth $8,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBOC. TFO Wealth Partners LLC grew its stake in shares of International Bancshares by 13,325.0% during the fourth quarter. TFO Wealth Partners LLC now owns 537 shares of the bank’s stock valued at $29,000 after buying an additional 533 shares during the last quarter. Strs Ohio grew its stake in shares of International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $70,000 after buying an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of International Bancshares during the first quarter valued at approximately $151,000. Inceptionr LLC bought a new position in shares of International Bancshares during the fourth quarter valued at approximately $208,000. Finally, Linscomb & Williams Inc. bought a new position in shares of International Bancshares during the fourth quarter valued at approximately $221,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

International Bancshares Trading Down 2.0 %

NASDAQ:IBOC traded down $1.14 during midday trading on Thursday, hitting $57.20. The stock had a trading volume of 93,089 shares, compared to its average volume of 233,690. International Bancshares Co. has a one year low of $41.96 and a one year high of $61.46. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 8.73 and a beta of 0.89. The stock has a 50-day moving average of $57.08 and a 200 day moving average of $54.64. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05.

International Bancshares (NASDAQ:IBOC) last announced its quarterly earnings data on Thursday, May 2nd. The bank reported $1.56 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 17.50% and a net margin of 40.92%. The company had revenue of $205.85 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised International Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 11th.

Insider Buying and Selling

In related news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $59.75, for a total value of $1,799,192.00. Following the transaction, the director now owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.93% of the stock is owned by 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.