International Bancshares Co. (NASDAQ:IBOC) Short Interest Update

International Bancshares Co. (NASDAQ:IBOC) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 692,900 shares, a drop of 12.7% from the October 15th total of 793,400 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 205,300 shares, the days-to-cover ratio is presently 3.4 days.

International Bancshares Price Performance

International Bancshares stock traded down $0.07 during trading hours on Monday, hitting $70.82. The stock had a trading volume of 140,191 shares, compared to its average volume of 222,174. International Bancshares has a 1-year low of $44.24 and a 1-year high of $73.82. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 11.01 and a beta of 0.87. The stock’s fifty day moving average is $62.80 and its two-hundred day moving average is $60.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

Insider Activity

In related news, CEO Dennis E. Nixon sold 34,815 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 965,185 shares in the company, valued at $69,667,053.30. This represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.93% of the company’s stock.

Institutional Investors Weigh In On International Bancshares

A number of large investors have recently added to or reduced their stakes in IBOC. Jupiter Asset Management Ltd. grew its position in shares of International Bancshares by 28.2% in the first quarter. Jupiter Asset Management Ltd. now owns 127,782 shares of the bank’s stock valued at $7,174,000 after purchasing an additional 28,070 shares during the last quarter. Janus Henderson Group PLC increased its position in International Bancshares by 73.1% during the first quarter. Janus Henderson Group PLC now owns 44,406 shares of the bank’s stock worth $2,491,000 after buying an additional 18,749 shares in the last quarter. Vident Advisory LLC purchased a new position in International Bancshares during the first quarter worth $3,120,000. Strategic Financial Concepts LLC acquired a new position in shares of International Bancshares in the second quarter worth $39,000. Finally, Intech Investment Management LLC purchased a new stake in shares of International Bancshares in the second quarter valued at $756,000. 65.91% of the stock is owned by institutional investors and hedge funds.

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.