Royce & Associates LP increased its position in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,649 shares of the bank’s stock after acquiring an additional 4,000 shares during the period. Royce & Associates LP owned about 0.36% of Independent Bank Group worth $7,336,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. UBS Group AG grew its holdings in Independent Bank Group by 1,441.6% during the 1st quarter. UBS Group AG now owns 2,559 shares of the bank’s stock worth $181,000 after acquiring an additional 2,393 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Independent Bank Group by 13.9% during the 1st quarter. Principal Financial Group Inc. now owns 13,584 shares of the bank’s stock worth $960,000 after acquiring an additional 1,660 shares in the last quarter. Alps Advisors Inc. grew its holdings in Independent Bank Group by 27.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,354 shares of the bank’s stock worth $565,000 after acquiring an additional 1,791 shares in the last quarter. TD Asset Management Inc. grew its holdings in Independent Bank Group by 32.0% during the 2nd quarter. TD Asset Management Inc. now owns 15,952 shares of the bank’s stock worth $1,066,000 after acquiring an additional 3,866 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Independent Bank Group by 37.5% during the 2nd quarter. First Trust Advisors LP now owns 62,151 shares of the bank’s stock worth $4,152,000 after acquiring an additional 16,935 shares in the last quarter. Institutional investors and hedge funds own 61.06% of the company’s stock.
IBTX has been the subject of several analyst reports. BidaskClub upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Raymond James lowered their price target on shares of Independent Bank Group from $83.00 to $74.00 and set a “positive” rating for the company in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Zacks Investment Research cut shares of Independent Bank Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 28th. Stephens set a $82.00 price target on shares of Independent Bank Group and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Finally, SunTrust Banks set a $64.00 price target on shares of Independent Bank Group and gave the stock a “hold” rating in a report on Wednesday, October 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $75.00.
Shares of NASDAQ:IBTX opened at $52.37 on Friday. The company has a market cap of $1.60 billion, a PE ratio of 15.18 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. Independent Bank Group Inc has a twelve month low of $51.61 and a twelve month high of $79.00.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $1.20 earnings per share for the quarter, hitting the consensus estimate of $1.20. The business had revenue of $99.02 million during the quarter, compared to the consensus estimate of $96.47 million. Independent Bank Group had a net margin of 26.53% and a return on equity of 8.51%. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, equities research analysts forecast that Independent Bank Group Inc will post 4.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were given a dividend of $0.14 per share. The ex-dividend date was Friday, November 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.07%. Independent Bank Group’s dividend payout ratio is presently 16.23%.
In other news, CFO Michelle S. Hickox sold 500 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $65.72, for a total transaction of $32,860.00. Following the completion of the sale, the chief financial officer now owns 24,036 shares in the company, valued at approximately $1,579,645.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Brian E. Hobart acquired 1,781 shares of Independent Bank Group stock in a transaction dated Tuesday, December 4th. The shares were bought at an average price of $56.00 per share, with a total value of $99,736.00. Following the transaction, the insider now directly owns 122,405 shares in the company, valued at approximately $6,854,680. The disclosure for this purchase can be found here. Insiders have bought a total of 34,981 shares of company stock valued at $2,190,244 in the last 90 days. Insiders own 10.90% of the company’s stock.
About Independent Bank Group
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.
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