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

International Bancshares Co. (NASDAQ:IBOC) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 517,300 shares, a drop of 21.4% from the December 15th total of 658,500 shares. Based on an average trading volume of 243,000 shares, the short-interest ratio is currently 2.1 days. Approximately 0.9% of the shares of the stock are short sold.

Insider Activity at International Bancshares

In other news, CEO Dennis E. Nixon sold 34,815 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.18, for a total transaction of $2,512,946.70. Following the transaction, the chief executive officer now owns 965,185 shares in the company, valued at $69,667,053.30. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of International Bancshares by 5,673.7% during 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 during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of International Bancshares during the third quarter worth approximately $202,000. Blue Trust Inc. raised its stake in International Bancshares by 564.8% in the 3rd quarter. Blue Trust Inc. now owns 3,477 shares of the bank’s stock valued at $199,000 after purchasing an additional 2,954 shares during the last quarter. Versor Investments LP purchased a new position in International Bancshares in the 3rd quarter valued at $222,000. Finally, Centiva Capital LP acquired a new stake in International Bancshares during the 3rd quarter worth $250,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

International Bancshares Price Performance

NASDAQ:IBOC traded down $1.35 during trading hours on Thursday, reaching $64.93. 73,453 shares of the company were exchanged, compared to its average volume of 229,740. 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 market cap of $4.04 billion, a PE ratio of 10.11 and a beta of 0.93. International Bancshares has a twelve month low of $48.85 and a twelve month high of $76.91. The stock’s 50-day moving average is $68.33 and its 200-day moving average is $63.89.

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.