International Bancshares Co. (NASDAQ:IBOC) CEO Sells $2,512,946.70 in Stock

International Bancshares Co. (NASDAQ:IBOC) CEO Dennis E. Nixon sold 34,815 shares of International Bancshares stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.18, for a total value of $2,512,946.70. Following the completion of the transaction, the chief executive officer now owns 965,185 shares of the company’s stock, valued at approximately $69,667,053.30. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

International Bancshares Stock Performance

Shares of NASDAQ:IBOC opened at $70.89 on Friday. The business has a fifty day moving average of $62.80 and a 200-day moving average of $60.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. International Bancshares Co. has a twelve month low of $44.24 and a twelve month high of $73.82. The firm has a market cap of $4.41 billion, a PE ratio of 11.02 and a beta of 0.87.

Institutional Investors Weigh In On International Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of International Bancshares by 141.0% during the second quarter. Blue Trust Inc. now owns 523 shares of the bank’s stock valued at $29,000 after purchasing an additional 306 shares during the last quarter. LRI Investments LLC bought a new position in International Bancshares in the 1st quarter valued at $117,000. CWM LLC boosted its position in International Bancshares by 5,673.7% in the 3rd quarter. CWM LLC now owns 2,194 shares of the bank’s stock valued at $131,000 after buying an additional 2,156 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of International Bancshares in the 1st quarter valued at $151,000. Finally, Covestor Ltd lifted its stake in shares of International Bancshares by 14.4% during the first quarter. Covestor Ltd now owns 3,369 shares of the bank’s stock valued at $189,000 after acquiring an additional 424 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.

International Bancshares Company Profile

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.