Independent Bank Group Inc (IBTX) Holdings Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its position in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 44.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,425 shares of the bank’s stock after acquiring an additional 26,150 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.31% of Independent Bank Group worth $5,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. California Public Employees Retirement System increased its holdings in shares of Independent Bank Group by 10.9% in the second quarter. California Public Employees Retirement System now owns 6,100 shares of the bank’s stock valued at $363,000 after purchasing an additional 600 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Independent Bank Group by 10.5% in the third quarter. Alps Advisors Inc. now owns 8,354 shares of the bank’s stock valued at $504,000 after purchasing an additional 795 shares during the last quarter. American International Group Inc. increased its holdings in shares of Independent Bank Group by 8.1% in the third quarter. American International Group Inc. now owns 11,838 shares of the bank’s stock valued at $714,000 after purchasing an additional 885 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Independent Bank Group by 54.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock valued at $175,000 after purchasing an additional 1,023 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Independent Bank Group by 6.3% in the second quarter. New York State Common Retirement Fund now owns 18,900 shares of the bank’s stock valued at $1,125,000 after purchasing an additional 1,113 shares during the last quarter. 47.71% of the stock is owned by institutional investors and hedge funds.

IBTX has been the subject of several recent analyst reports. BidaskClub raised Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a research note on Thursday, October 19th. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a research note on Wednesday, October 4th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Independent Bank Group has a consensus rating of “Buy” and an average target price of $73.57.

Independent Bank Group Inc (NASDAQ IBTX) traded up $0.75 on Thursday, hitting $72.50. The stock had a trading volume of 133,502 shares, compared to its average volume of 114,546. Independent Bank Group Inc has a 1-year low of $51.70 and a 1-year high of $75.95. The stock has a market capitalization of $2,041.48, a price-to-earnings ratio of 24.25 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to analysts’ expectations of $83.85 million. Independent Bank Group had a net margin of 21.91% and a return on equity of 8.26%. During the same quarter last year, the business posted $0.83 earnings per share. research analysts expect that Independent Bank Group Inc will post 4.69 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, February 12th will be issued a $0.12 dividend. The ex-dividend date is Friday, February 9th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. Independent Bank Group’s dividend payout ratio (DPR) is 13.38%.

In related news, Vice Chairman Daniel W. Brooks sold 25,000 shares of Independent Bank Group stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total value of $1,707,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.70% of the company’s stock.

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Independent Bank Group Company 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.

Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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