Short Interest in International Bancshares Co. (NASDAQ:IBOC) Declines By 12.7%

International Bancshares Co. (NASDAQ:IBOC) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 692,900 shares, a decline of 12.7% from the October 15th total of 793,400 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 205,300 shares, the short-interest ratio is currently 3.4 days.

Insider Activity

In other news, CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the sale, the chief executive officer now owns 965,185 shares of the company’s stock, valued at $69,667,053.30. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.93% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of IBOC. Blue Trust Inc. grew its stake in shares of International Bancshares by 141.0% during the 2nd quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after buying an additional 306 shares during the period. Strategic Financial Concepts LLC purchased a new stake in International Bancshares during the second quarter valued at about $39,000. LRI Investments LLC acquired a new stake in International Bancshares during the first quarter worth about $117,000. CWM LLC increased its stake in International Bancshares by 5,673.7% during the third quarter. CWM LLC now owns 2,194 shares of the bank’s stock worth $131,000 after acquiring an additional 2,156 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of International Bancshares in the 1st quarter worth about $151,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Trading Down 0.1 %

IBOC traded down $0.07 during midday trading on Monday, hitting $70.82. The company’s stock had a trading volume of 140,191 shares, compared to its average volume of 222,174. The firm has a market cap of $4.41 billion, a P/E ratio of 11.01 and a beta of 0.87. International Bancshares has a 52-week low of $44.24 and a 52-week high of $73.82. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $62.80 and a two-hundred day moving average price of $60.70.

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.