International Bancshares Co. (NASDAQ:IBOC) Short Interest Down 12.7% in October

by · The Cerbat Gem

International Bancshares Co. (NASDAQ:IBOC – Get Free Report) saw a large drop in short interest in the month of 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. Based on an average trading volume of 205,300 shares, the days-to-cover ratio is currently 3.4 days. Currently, 1.3% of the shares of the company are short sold.

International Bancshares Price Performance

Shares of International Bancshares stock traded down $0.07 on Monday, hitting $70.82. The company’s stock had a trading volume of 140,191 shares, compared to its average volume of 222,174. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $4.41 billion, a P/E ratio of 11.02 and a beta of 0.87. The firm has a fifty day moving average price of $62.80 and a 200-day moving average price of $60.70. International Bancshares has a 52-week low of $44.24 and a 52-week high of $73.82.

Insiders Place Their Bets

In other International Bancshares 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 sale, the chief executive officer now directly owns 965,185 shares in the company, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IBOC. Blue Trust Inc. increased its position in International Bancshares by 141.0% during the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock worth $29,000 after buying an additional 306 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in International Bancshares in the 2nd quarter valued at about $39,000. LRI Investments LLC purchased a new position in International Bancshares in the 1st quarter valued at about $117,000. CWM LLC boosted its stake in shares of International Bancshares by 5,673.7% during the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock worth $131,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of International Bancshares during the first quarter worth about $151,000. 65.91% of the stock is owned by hedge funds and other institutional investors.

About International Bancshares

(Get Free Report)

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.

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