International Bancshares Co. (NASDAQ:IBOC) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lowered its position in shares of International Bancshares Co. (NASDAQ:IBOC) by 5.3% in the first quarter, HoldingsChannel.com reports. The firm owned 156,494 shares of the bank’s stock after selling 8,800 shares during the quarter. International Bancshares comprises 1.1% of Kovack Advisors Inc.’s holdings, making the stock its 13th largest position. Kovack Advisors Inc.’s holdings in International Bancshares were worth $8,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBOC. Qube Research & Technologies Ltd grew its stake in shares of International Bancshares by 777.6% during the third quarter. Qube Research & Technologies Ltd now owns 58,266 shares of the bank’s stock worth $2,525,000 after purchasing an additional 51,627 shares in the last quarter. AQR Capital Management LLC boosted its stake in International Bancshares by 40.2% in the third quarter. AQR Capital Management LLC now owns 136,942 shares of the bank’s stock valued at $5,935,000 after acquiring an additional 39,261 shares in the last quarter. Alps Advisors Inc. boosted its stake in International Bancshares by 8.3% in the third quarter. Alps Advisors Inc. now owns 7,635 shares of the bank’s stock valued at $331,000 after acquiring an additional 585 shares in the last quarter. Diversified Trust Co boosted its stake in International Bancshares by 47.1% in the third quarter. Diversified Trust Co now owns 13,908 shares of the bank’s stock valued at $603,000 after acquiring an additional 4,456 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in International Bancshares by 12.2% in the third quarter. American Century Companies Inc. now owns 570,126 shares of the bank’s stock valued at $24,709,000 after acquiring an additional 62,148 shares in the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

Insider Activity

In other news, Director Antonio R. Sanchez, Jr. sold 30,112 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $59.75, for a total value of $1,799,192.00. Following the completion of the sale, the director now directly owns 1,282,133 shares of the company’s stock, valued at $76,607,446.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.93% of the company’s stock.

International Bancshares Stock Performance

NASDAQ IBOC traded down $1.14 during trading hours on Thursday, hitting $57.20. The company had a trading volume of 93,089 shares, compared to its average volume of 233,690. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71. International Bancshares Co. has a 1-year low of $41.96 and a 1-year high of $61.46. The company has a market cap of $3.56 billion, a PE ratio of 8.73 and a beta of 0.89. The business has a 50 day moving average of $57.08 and a 200-day moving average of $54.64.

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

Analyst Upgrades and Downgrades

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

International Bancshares 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.