Dennis E. Nixon Sells 34,815 Shares of International Bancshares Co. (NASDAQ:IBOC) Stock

International Bancshares Co. (NASDAQ:IBOC) CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the completion of the transaction, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Bancshares Stock Performance

IBOC stock opened at $70.89 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. International Bancshares Co. has a twelve month low of $44.24 and a twelve month high of $73.82. The business’s fifty day moving average is $62.80 and its 200-day moving average is $60.64. The company has a market cap of $4.41 billion, a P/E ratio of 11.02 and a beta of 0.87.

Hedge Funds Weigh In On International Bancshares

Several hedge funds have recently added to or reduced their stakes in IBOC. American Century Companies Inc. raised its position in shares of International Bancshares by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 993,128 shares of the bank’s stock valued at $56,817,000 after acquiring an additional 176,334 shares during the period. Vanguard Group Inc. raised its holdings in International Bancshares by 2.4% in the first quarter. Vanguard Group Inc. now owns 6,531,395 shares of the bank’s stock worth $366,673,000 after purchasing an additional 152,165 shares during the period. Foundry Partners LLC bought a new position in shares of International Bancshares during the third quarter worth $8,937,000. AQR Capital Management LLC grew its holdings in shares of International Bancshares by 45.7% in the 2nd quarter. AQR Capital Management LLC now owns 316,260 shares of the bank’s stock valued at $17,983,000 after buying an additional 99,164 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of International Bancshares in the 2nd quarter valued at $4,413,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

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.