Foresters Investment Management Company Inc. lifted its position in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 150,100 shares of the bank’s stock after acquiring an additional 11,900 shares during the quarter. Foresters Investment Management Company Inc. owned approximately 0.34% of Independent Bank Group worth $8,249,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Independent Bank Group by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,756,303 shares of the bank’s stock valued at $80,389,000 after buying an additional 216,028 shares in the last quarter. Geode Capital Management LLC increased its stake in Independent Bank Group by 67.5% in the 4th quarter. Geode Capital Management LLC now owns 401,298 shares of the bank’s stock worth $18,367,000 after purchasing an additional 161,786 shares during the period. Connors Investor Services Inc. purchased a new position in Independent Bank Group in the 1st quarter worth approximately $5,385,000. Kennedy Capital Management Inc. increased its stake in Independent Bank Group by 92.6% in the 1st quarter. Kennedy Capital Management Inc. now owns 184,034 shares of the bank’s stock worth $9,439,000 after purchasing an additional 88,463 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Independent Bank Group in the 1st quarter worth approximately $4,248,000. Institutional investors and hedge funds own 62.66% of the company’s stock.
Shares of IBTX stock traded up $0.43 during mid-day trading on Friday, hitting $52.72. The company’s stock had a trading volume of 4,425 shares, compared to its average volume of 217,962. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 11.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.03. Independent Bank Group Inc has a 52-week low of $44.14 and a 52-week high of $69.18. The business has a 50-day moving average price of $51.38 and a 200 day moving average price of $53.92.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.05). The firm had revenue of $145.84 million for the quarter, compared to analysts’ expectations of $138.67 million. Independent Bank Group had a net margin of 26.06% and a return on equity of 9.18%. Equities research analysts predict that Independent Bank Group Inc will post 5.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, August 2nd. Independent Bank Group’s payout ratio is 22.42%.
A number of brokerages have commented on IBTX. ValuEngine raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a research note on Friday, May 24th. Zacks Investment Research lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Stephens restated a “buy” rating and set a $67.00 price target on shares of Independent Bank Group in a research report on Monday, May 20th. Finally, BidaskClub upgraded Independent Bank Group from a “strong sell” rating to a “sell” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Independent Bank Group presently has an average rating of “Hold” and a consensus price target of $63.00.
Independent Bank Group Company Profile
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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