On September 3, 2023, it was reported that Panagora Asset Management Inc. has increased its holdings in International Bancshares Co. by 37.6% during the first quarter of the year. This information was obtained from the company’s most recent 13F filing with the Securities & Exchange Commission.
The filing revealed that Panagora Asset Management Inc. now owns 268,055 shares of International Bancshares, representing a significant increase as they purchased an additional 73,306 shares during the quarter. The total value of their holdings is estimated to be $11,478,000.
International Bancshares Co. is a bank that operates on the NASDAQ stock exchange under the ticker symbol IBOC. It is one of many holdings in Panagora Asset Management Inc.’s portfolio.
Additionally, it was announced that International Bancshares recently paid a Semi-Annual dividend on August 25th. Shareholders who were recorded as of August 11th received a dividend of $0.63 per share. The ex-dividend date for this payment was August 10th.
This dividend distribution represents a yield of 2.5%, which indicates the return on investment for shareholders based on the stock’s current price.
Furthermore, International Bancshares has a dividend payout ratio (DPR) of 20.06%. This figure represents the percentage of earnings that are distributed to shareholders as dividends.
Investors and analysts often pay close attention to a company’s dividend payments and payout ratios as they provide insights into a company’s financial health and stability.
It should be noted that all this information is based on the most recent filing with SEC and may not reflect any subsequent changes or developments within International Bancshares or Panagora Asset Management Inc.
As always, potential investors are advised to conduct their own thorough analysis and research before making any investment decisions.
International Bancshares Attracts Attention as Hedge Funds and Institutional Investors Adjust Stakes
In the ever-changing world of finance, it is important for investors to stay informed about the latest developments in the market. One such development is the recent activity surrounding International Bancshares (NASDAQ:IBOC), a bank with a market capitalization of $2.78 billion. Several hedge funds have made changes to their stakes in the business, and StockNews.com has also provided coverage on the company.
ProShare Advisors LLC, for instance, recently increased its position in International Bancshares by 8.6% during the first quarter, now owning 199,487 shares valued at $8,542,000. This increase was accompanied by HighTower Advisors LLC’s purchase of new stake in the bank, worth $287,000. On another note, FMR LLC saw substantial growth in its holdings of International Bancshares during the first quarter as well.
American Century Companies Inc., meanwhile, has also recognized the value of investing in International Bancshares and increased its position in shares by 16.3% during the same time period. Finally, Rhumbline Advisers decided to raise its stake in International Bancshares by 7.4% during the first quarter too.
Such activity from institutional investors showcases their confidence and belief in International Bancshares’ potential for growth and profitability.
Turning our attention to StockNews.com’s research note on Thursday, August 17th – they issued a “hold” rating on International Bancshares. This decision is likely based on careful analysis and evaluation of various factors that impact the bank’s performance.
International Bancshares opened at $44.78 on Friday and steadily maintains a 50-day moving average price of $46.27 while its 200-day moving average price is recorded at $44.90.
With a wide range between its 52-week low of $39.10 and high of $53.71, International Bancshares has proven to be an investment option with potential opportunities.
The bank’s financials have been promising as well. In its most recent quarterly earnings report on Thursday, August 3rd, International Bancshares reported an impressive $1.62 EPS. This demonstrates the bank’s ability to generate profits and capitalize on the opportunities presented in the market.
Having a net margin of 44.20% and a return on equity of 18.73%, International Bancshares exhibits strong financial performance in comparison to its competitors.
In conclusion, International Bancshares has attracted attention from various hedge funds and institutional investors, who have either increased or reduced their stakes in the business. StockNews.com’s “hold” rating suggests cautious optimism towards the stock.
Trading at a price within its 52-week range, International Bancshares presents both short-term and long-term investment opportunities. With its solid financial performance and ability to generate profits, the bank stands out in the market.
Investors interested in this sector can closely monitor International Bancshares for potential growth and profitability as it continues to navigate through the ever-changing world of finance.