SOL Capital Management CO Reduces Stake in International Bancshares Co.

SOL Capital Management CO has lowered its holdings in International Bancshares Co. (NASDAQ:IBOC) by 9.7% during the third quarter, as reflected in its latest Form 13F filing with the Securities & Exchange Commission. Following the sale of 25,000 shares, the fund now holds 231,525 shares in the bank. This stake makes up approximately 1.5% of SOL Capital Management CO's total portfolio, positioning it as the fund's 13th largest investment. As per the recent filing, SOL Capital Management CO's ownership in International Bancshares equates to around 0.37%, valued at $13,843,000.

Various other institutional investors also adjusted their positions in International Bancshares recently. For instance, American Century Companies Inc. increased its stake by 21.6% during the second quarter. Now, American Century holds 993,128 shares valued at $56,817,000, thanks to the acquisition of an additional 176,334 shares last quarter. Similarly, Vanguard Group Inc. raised its investment by 2.4% in the first quarter, bringing its total shares to 6,531,395, worth $366,673,000 after adding 152,165 shares. AQR Capital Management LLC saw a substantial increase of 45.7% in its holdings during the second quarter, now owning 316,260 shares valued at $17,983,000 after purchasing 99,164 shares. Additionally, Edgestream Partners L.P. made a new investment in International Bancshares valued at approximately $4,413,000, and Strategic Financial Concepts LLC also acquired a new stake valued at about $39,000. In total, institutional and hedge funds own about 65.91% of the company's stock.

Current Stock Performance

On Thursday, International Bancshares shares opened at $62.36. The company demonstrates a quick ratio of 0.71 and a current ratio of 0.71, with a remarkably low debt-to-equity ratio of 0.05. Over the past year, the stock has seen a low of $42.25 and a high of $69.87. The 50-day moving average stands at $61.10, while the 200-day moving average is at $59.25. The company's market capitalization is approximately $3.88 billion, with a price-to-earnings ratio of 9.52 and a beta of 0.87.

In its latest earnings announcement dated August 1st, International Bancshares reported earnings of $1.56 per share for the quarter. The bank achieved a net margin of 39.64% and a return on equity of 16.66%, with total revenues reported at $207.75 million.

Dividend Information

Recently, International Bancshares also declared a semi-annual dividend, which was disbursed on August 28th. Shareholders recorded on August 14th received a dividend of $0.66. The ex-dividend date occurred on August 14th, resulting in a dividend yield of 2.3%. The company's payout ratio is noted at 20.15%.

About International Bancshares

International Bancshares Corporation is a financial holding company that offers a wide range of commercial and retail banking services across Texas and Oklahoma. They accept both checking and savings deposits, alongside providing various types of loans including commercial, real estate, personal, home improvement, and automobile loans.

Securities, Investment, Banking