Short Interest in International Bancshares Co. (NASDAQ:IBOC) Decreases By 21.4%

International Bancshares Co. (NASDAQ:IBOC) was the target of a large drop in short interest in 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 daily volume of 243,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.9% of the shares of the stock are sold short.

Insiders Place Their Bets

In other International Bancshares news, CEO Dennis E. Nixon sold 34,815 shares of the firm’s stock in a transaction 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 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. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.93% of the company’s stock.

Institutional Trading of International Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in International Bancshares by 11.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,274 shares of the bank’s stock valued at $396,000 after acquiring an additional 649 shares during the last quarter. Reinhart Partners LLC. lifted its stake in shares of International Bancshares by 0.7% in the 4th quarter. Reinhart Partners LLC. now owns 687,160 shares of the bank’s stock valued at $43,401,000 after purchasing an additional 5,016 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of International Bancshares by 4.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 57,741 shares of the bank’s stock valued at $3,647,000 after purchasing an additional 2,447 shares during the last quarter. Diversified Trust Co grew its holdings in shares of International Bancshares by 11.2% during the 4th quarter. Diversified Trust Co now owns 19,529 shares of the bank’s stock worth $1,233,000 after purchasing an additional 1,974 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of International Bancshares by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 175,330 shares of the bank’s stock worth $10,483,000 after purchasing an additional 24,902 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Trading Down 2.0 %

Shares of IBOC traded down $1.35 during mid-day trading on Thursday, reaching $64.93. The stock had a trading volume of 73,453 shares, compared to its average volume of 229,740. International Bancshares has a 52-week low of $48.85 and a 52-week high of $76.91. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 10.11 and a beta of 0.93. The business’s fifty day moving average is $68.33 and its 200 day moving average is $63.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

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.