Millennium Management LLC grew its holdings in Independent Bank Group Inc (NASDAQ:IBTX) by 272.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 426,773 shares of the bank’s stock after purchasing an additional 312,164 shares during the quarter. Millennium Management LLC owned approximately 0.99% of Independent Bank Group worth $22,452,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of IBTX. Algebris UK Ltd bought a new stake in shares of Independent Bank Group during the third quarter worth approximately $558,000. Voya Investment Management LLC grew its holdings in Independent Bank Group by 2.1% during the 3rd quarter. Voya Investment Management LLC now owns 691,520 shares of the bank’s stock worth $36,381,000 after acquiring an additional 14,352 shares during the period. California Public Employees Retirement System raised its position in shares of Independent Bank Group by 152.9% during the 3rd quarter. California Public Employees Retirement System now owns 77,689 shares of the bank’s stock valued at $4,087,000 after acquiring an additional 46,972 shares during the last quarter. BB&T Securities LLC raised its position in shares of Independent Bank Group by 6.6% during the 3rd quarter. BB&T Securities LLC now owns 6,025 shares of the bank’s stock valued at $322,000 after acquiring an additional 373 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in shares of Independent Bank Group during the 3rd quarter valued at $312,000. 64.70% of the stock is currently owned by institutional investors.
Shares of NASDAQ IBTX opened at $57.50 on Tuesday. Independent Bank Group Inc has a 52-week low of $44.14 and a 52-week high of $58.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market cap of $2.48 billion, a P/E ratio of 12.89 and a beta of 1.48. The firm has a 50 day moving average price of $55.20 and a 200 day moving average price of $53.50.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, October 21st. The bank reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.01. The company had revenue of $152.72 million for the quarter, compared to analyst estimates of $141.57 million. Independent Bank Group had a net margin of 26.29% and a return on equity of 9.39%. During the same period last year, the business posted $1.20 earnings per share. Analysts predict that Independent Bank Group Inc will post 5.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, November 1st. Independent Bank Group’s dividend payout ratio (DPR) is 22.42%.
Several research analysts have recently issued reports on IBTX shares. ValuEngine upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Zacks Investment Research lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Stephens reissued a “buy” rating on shares of Independent Bank Group in a research note on Tuesday, October 22nd. Finally, SunTrust Banks reduced their target price on Independent Bank Group from $61.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Independent Bank Group has a consensus rating of “Hold” and a consensus price target of $62.00.
About Independent Bank Group
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.
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