Alliancebernstein L.P. grew its position in Independent Bank Group Inc (NASDAQ:IBTX) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 710,307 shares of the bank’s stock after purchasing an additional 68,589 shares during the period. Alliancebernstein L.P. owned about 2.51% of Independent Bank Group worth $48,017,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in IBTX. Atlantic Trust Group LLC purchased a new stake in shares of Independent Bank Group in the third quarter valued at about $20,385,000. Dimensional Fund Advisors LP increased its holdings in Independent Bank Group by 23.0% during the third quarter. Dimensional Fund Advisors LP now owns 644,395 shares of the bank’s stock worth $38,857,000 after buying an additional 120,480 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new stake in Independent Bank Group during the fourth quarter worth about $7,438,000. Chartwell Investment Partners LLC increased its holdings in Independent Bank Group by 48.7% during the third quarter. Chartwell Investment Partners LLC now owns 300,720 shares of the bank’s stock worth $18,133,000 after buying an additional 98,477 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Independent Bank Group by 99.6% during the third quarter. Russell Investments Group Ltd. now owns 164,331 shares of the bank’s stock worth $9,909,000 after buying an additional 81,990 shares during the last quarter. Institutional investors own 56.29% of the company’s stock.
Independent Bank Group Inc (IBTX) opened at $73.25 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2,108.93, a PE ratio of 24.52 and a beta of 1.27. Independent Bank Group Inc has a 1 year low of $51.70 and a 1 year high of $75.95.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, February 9th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s dividend payout ratio (DPR) is currently 16.05%.
A number of analysts recently issued reports on IBTX shares. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. SunTrust Banks restated a “hold” rating and set a $75.00 price objective on shares of Independent Bank Group in a report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Stephens restated a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Finally, Sandler O’Neill restated a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Independent Bank Group currently has a consensus rating of “Buy” and an average target price of $73.57.
In other Independent Bank Group news, Director Douglas A. Cifu sold 11,416 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $71.15, for a total transaction of $812,248.40. Following the completion of the transaction, the director now owns 90,205 shares in the company, valued at $6,418,085.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas A. Cifu sold 29,458 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $74.26, for a total transaction of $2,187,551.08. Following the transaction, the director now owns 45,213 shares of the company’s stock, valued at approximately $3,357,517.38. The disclosure for this sale can be found here. Insiders have sold 58,299 shares of company stock valued at $4,263,286 in the last quarter. Company insiders own 7.70% of the company’s stock.
Independent Bank Group Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.
Want to see what other hedge funds are holding IBTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independent Bank Group Inc (NASDAQ:IBTX).
Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.