Short Interest in International Bancshares Co. (NASDAQ:IBOC) Decreases By 11.3%

International Bancshares Co. (NASDAQ:IBOC) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 628,800 shares, a decrease of 11.3% from the November 15th total of 708,600 shares. Based on an average daily volume of 206,900 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.1% of the company’s shares are sold short.

Insider Transactions at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 965,185 shares of the company’s stock, valued at $69,667,053.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.93% of the company’s stock.

Hedge Funds Weigh In On International Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBOC. Blue Trust Inc. lifted its holdings in International Bancshares by 141.0% in the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after purchasing an additional 306 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of International Bancshares in the 2nd quarter worth approximately $39,000. CWM LLC boosted its holdings in shares of International Bancshares by 5,673.7% in the third quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after acquiring an additional 2,156 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in International Bancshares during the third quarter worth about $202,000. Finally, Versor Investments LP acquired a new stake in International Bancshares in the 3rd quarter valued at about $222,000. 65.91% of the stock is owned by institutional investors.

International Bancshares Stock Performance

International Bancshares stock opened at $69.15 on Tuesday. The company has a market cap of $4.30 billion, a PE ratio of 10.75 and a beta of 0.90. International Bancshares has a 12 month low of $48.85 and a 12 month high of $76.91. The company has a fifty day moving average price of $67.50 and a two-hundred day moving average price of $62.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

International Bancshares Company 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.