International Bancshares Co. (NASDAQ:IBOC) Shares Purchased by Westover Capital Advisors LLC

Westover Capital Advisors LLC increased its holdings in shares of International Bancshares Co. (NASDAQ:IBOC) by 698.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,400 shares of the bank’s stock after acquiring an additional 44,084 shares during the period. Westover Capital Advisors LLC owned approximately 0.08% of International Bancshares worth $2,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBOC. Strs Ohio boosted its position in International Bancshares by 333.3% during the fourth quarter. Strs Ohio now owns 1,300 shares of the bank’s stock worth $70,000 after purchasing an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in International Bancshares by 37.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,596 shares of the bank’s stock worth $113,000 after purchasing an additional 711 shares in the last quarter. Covestor Ltd lifted its position in shares of International Bancshares by 69.9% in the third quarter. Covestor Ltd now owns 2,717 shares of the bank’s stock valued at $118,000 after acquiring an additional 1,118 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of International Bancshares in the fourth quarter valued at $254,000. Finally, Alps Advisors Inc. lifted its position in shares of 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. Institutional investors and hedge funds own 65.91% of the company’s stock.

Insider Buying and Selling

In related news, Director Antonio R. Sanchez, Jr. sold 40,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $54.22, for a total transaction of $2,168,800.00. Following the transaction, the director now directly owns 1,312,245 shares in the company, valued at $71,149,923.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 14.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded International Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th.

International Bancshares Price Performance

Shares of NASDAQ:IBOC traded up $1.23 on Thursday, hitting $58.40. The company had a trading volume of 348,504 shares, compared to its average volume of 230,640. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.05. International Bancshares Co. has a 52-week low of $39.10 and a 52-week high of $58.90. The business has a 50 day moving average of $54.10 and a 200 day moving average of $51.07. The company has a market cap of $3.63 billion, a PE ratio of 8.78 and a beta of 0.92.

International Bancshares (NASDAQ:IBOC) last issued its quarterly earnings data on Monday, February 26th. The bank reported $1.71 earnings per share (EPS) for the quarter. International Bancshares had a return on equity of 18.32% and a net margin of 42.45%. The business had revenue of $211.03 million for the quarter.

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.