New York Life Investment Management LLC Shows Confidence in International Bancshares Co. with Stock Purchase

International Bancshares Co. (NASDAQ:IBOC) recently caught the attention of New York Life Investment Management LLC, as the firm purchased 11,020 shares of the bank’s stock in the first quarter. This move was reflected in the firm’s most recent disclosure with the Securities and Exchange Commission. The acquisition is valued at approximately $472,000, showcasing New York Life Investment Management’s confidence in International Bancshares.

International Bancshares Corporation operates as a financial holding company and provides a range of commercial and retail banking services primarily in Texas and Oklahoma. Its services include accepting checking and saving deposits, as well as offering various types of loans such as commercial, real estate, personal, home improvement, automobile, and other installment and term loans.

The financial institution has also made an announcement regarding a semi-annual dividend payout. Shareholders of record by August 11th will receive a dividend of $0.63 per share on Friday, August 25th. With a yield of 2.5%, this payout demonstrates International Bancshares’ commitment to providing value to its shareholders.

As of now, International Bancshares’ dividend payout ratio stands at 20.06%. This ratio represents the proportion of earnings that are distributed to shareholders in dividends instead of being retained within the company or invested into growth opportunities.

This recent purchase by New York Life Investment Management LLC reflects growing confidence in International Bancshares Co., indicating belief in the bank’s future prospects and stability within its operations. It also suggests that International Bancshares continues to be an attractive option for investors seeking potential returns from dividend payouts.

Overall, this news underscores International Bancshares’ position as a prominent financial institution within Texas and Oklahoma. Investors may find this development worth considering while evaluating investment opportunities in the banking sector.

International Bancshares (IBOC) Sees Increased Interest from Institutional Investors in Texas and Oklahoma

International Bancshares (IBOC), a financial holding company operating in Texas and Oklahoma, has recently seen activity from institutional investors in the first quarter. MetLife Investment Management LLC reported a 40.7% increase in its holdings of IBOC shares, now owning 63,070 shares worth $2,662,000. Additionally, Rhumbline Advisers boosted its position by 4.6%, now owning 181,576 shares valued at $7,664,000.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position by 10.5%, acquiring an additional 1,860 shares valued at $823,000 during the same period. Great West Life Assurance Co. Can also reported an increase of 11%, raising their ownership to 31,506 shares worth $1,364,000.

Notably, Yousif Capital Management LLC took its position up by 1.7%, buying an additional 465 shares now amounting to a total of 28,422 shares worth $1,200,000.

These institutional investors now collectively own approximately 64.49% of the stock in IBOC.

Opening at $45.52 on Friday on the NASDAQ exchange market with a market capitalization of $2.82 billion,IBOC possesses a modest price-earnings ratio (PE) of 7.25 and a beta value of 0.98 indicating relatively low volatility compared to the broader market.

The company’s quick ratio and current ratio both stand at 0.69 while maintaining a commendable debt-to-equity ratio of only 0.05.

Over the course of the past year (52-week period), IBOC has experienced fluctuating stock prices ranging from a low point of $39.10 to a high point of $53.71.

The stock demonstrates stability with a steady average price over the last few months, with a 50-day moving average of $46.54 and a 200-day moving average of $45.03.

International Bancshares primarily focuses on offering commercial and retail banking services to its customers. The company receives checking and savings deposits while providing various loans including commercial, real estate, personal, home improvement, and automobile installment and term loans.

In recent news coverage, research firm StockNews.com initiated coverage on IBOC with a “hold” rating for the stock.

As the financial sector continues to evolve in Texas and Oklahoma, it will be interesting to observe how International Bancshares fares amid the presence of institutional investors and its efforts to expand its banking services.