Teachers Advisors LLC Trims Position in Independent Bank Gr (IBTX)

Teachers Advisors LLC lessened its position in shares of Independent Bank Gr (NASDAQ:IBTX) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 30,880 shares of the bank’s stock after selling 770 shares during the quarter. Teachers Advisors LLC’s holdings in Independent Bank Gr were worth $2,087,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of IBTX. Nationwide Fund Advisors increased its position in Independent Bank Gr by 85.7% during the third quarter. Nationwide Fund Advisors now owns 39,729 shares of the bank’s stock valued at $2,396,000 after acquiring an additional 18,335 shares during the last quarter. Bank of New York Mellon Corp increased its position in Independent Bank Gr by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 96,227 shares of the bank’s stock valued at $5,802,000 after acquiring an additional 3,565 shares during the last quarter. American International Group Inc. increased its position in Independent Bank Gr by 8.1% during the third quarter. American International Group Inc. now owns 11,838 shares of the bank’s stock valued at $714,000 after acquiring an additional 885 shares during the last quarter. Legal & General Group Plc increased its position in Independent Bank Gr by 53.7% during the third quarter. Legal & General Group Plc now owns 6,872 shares of the bank’s stock valued at $415,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Independent Bank Gr by 42.3% during the third quarter. Wells Fargo & Company MN now owns 41,102 shares of the bank’s stock valued at $2,478,000 after acquiring an additional 12,220 shares during the last quarter. Institutional investors own 56.29% of the company’s stock.

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A number of analysts recently commented on the company. Zacks Investment Research cut Independent Bank Gr from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. BidaskClub cut Independent Bank Gr from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Stephens reiterated a “buy” rating on shares of Independent Bank Gr in a research report on Wednesday, January 31st. Sandler O’Neill reiterated a “buy” rating on shares of Independent Bank Gr in a research report on Wednesday, January 31st. Finally, SunTrust Banks reiterated a “neutral” rating on shares of Independent Bank Gr in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $73.57.

NASDAQ:IBTX opened at $70.70 on Tuesday. Independent Bank Gr has a 52-week low of $51.70 and a 52-week high of $75.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $2,004.05, a price-to-earnings ratio of 20.49 and a beta of 1.24.

Independent Bank Gr (NASDAQ:IBTX) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.03). Independent Bank Gr had a net margin of 21.91% and a return on equity of 7.79%. The company had revenue of $88.83 million for the quarter, compared to the consensus estimate of $83.85 million. During the same period in the prior year, the firm posted $0.83 EPS. equities research analysts predict that Independent Bank Gr will post 4.77 EPS for the current year.

In other Independent Bank Gr news, Director John Webb Jennings III sold 2,750 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $73.15, for a total transaction of $201,162.50. Following the completion of the sale, the director now owns 36,206 shares of the company’s stock, valued at $2,648,468.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas A. Cifu sold 11,416 shares of the business’s 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 sale, the director now directly owns 90,205 shares of the company’s stock, valued at approximately $6,418,085.75. The disclosure for this sale can be found here. Insiders have sold 62,299 shares of company stock valued at $4,551,649 in the last three months. 7.70% of the stock is currently owned by corporate insiders.

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About Independent Bank Gr

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

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