PNC Financial Services Group Inc. trimmed its holdings in shares of International Bancshares Corp (NASDAQ:IBOC) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,315 shares of the bank’s stock after selling 1,841 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.10% of International Bancshares worth $3,027,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in International Bancshares by 2.6% during the first quarter. Principal Financial Group Inc. now owns 238,056 shares of the bank’s stock worth $9,260,000 after buying an additional 6,080 shares during the last quarter. First Trust Advisors LP boosted its holdings in International Bancshares by 17.2% during the second quarter. First Trust Advisors LP now owns 128,333 shares of the bank’s stock worth $5,493,000 after buying an additional 18,878 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in International Bancshares during the second quarter worth about $626,000. Capital Advisors Inc. OK bought a new position in International Bancshares during the second quarter worth about $299,000. Finally, SG Americas Securities LLC boosted its holdings in International Bancshares by 19.6% during the second quarter. SG Americas Securities LLC now owns 16,390 shares of the bank’s stock worth $701,000 after buying an additional 2,689 shares during the last quarter. 59.12% of the stock is currently owned by institutional investors.
Separately, BidaskClub cut International Bancshares from a “hold” rating to a “sell” rating in a report on Friday, November 30th.
Shares of IBOC opened at $35.41 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. International Bancshares Corp has a 1 year low of $34.85 and a 1 year high of $47.95. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 11.71 and a beta of 1.47.
International Bancshares (NASDAQ:IBOC) last issued its earnings results on Wednesday, November 7th. The bank reported $0.77 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 10.94% and a net margin of 33.00%.
About International Bancshares
International Bancshares Corporation, a financial holding company, provides commercial and retail banking services. It accepts checking and saving deposits; and offers commercial, real estate, personal, home improvement, automobile, and other installment and term loans. The company also provides international banking services, including letters of credit, commercial and industrial loans, and foreign exchange.
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