Forest Hill Capital LLC purchased a new stake in Independent Bank Group Inc (NASDAQ:IBTX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 66,541 shares of the bank’s stock, valued at approximately $4,498,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Comerica Bank acquired a new stake in Independent Bank Group in the fourth quarter valued at $219,000. BNP Paribas Arbitrage SA raised its holdings in shares of Independent Bank Group by 54.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after purchasing an additional 1,023 shares during the period. Ellington Management Group LLC acquired a new stake in shares of Independent Bank Group during the fourth quarter worth $203,000. Navellier & Associates Inc acquired a new stake in shares of Independent Bank Group during the fourth quarter worth $212,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Independent Bank Group during the fourth quarter worth $301,000. 56.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on IBTX shares. BidaskClub raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. SunTrust Banks reissued a “hold” rating and set a $75.00 target price on shares of Independent Bank Group in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, January 10th. Finally, Sandler O’Neill reissued 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 given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $73.57.
Independent Bank Group Inc (NASDAQ IBTX) opened at $73.25 on Wednesday. The company has a market cap of $2,072.07, a PE ratio of 21.19 and a beta of 1.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52. Independent Bank Group Inc has a 12-month low of $51.70 and a 12-month high of $75.95.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.03). The firm had revenue of $88.83 million for the quarter, compared to the consensus estimate of $83.85 million. Independent Bank Group had a return on equity of 7.79% and a net margin of 21.91%. During the same quarter in the prior year, the company posted $0.83 EPS. research analysts expect that Independent Bank Group Inc will post 4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th were given a dividend of $0.12 per share. The ex-dividend date was Friday, February 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s dividend payout ratio is currently 16.05%.
In related 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 value of $812,248.40. Following the completion of the transaction, the director now owns 90,205 shares in the company, valued at approximately $6,418,085.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas A. Cifu sold 29,458 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $74.26, for a total transaction of $2,187,551.08. Following the completion of 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 90 days. Insiders own 7.70% of the company’s stock.
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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.
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