BNP Paribas Arbitrage SA Has $336,000 Position in Independent Bank Group Inc (IBTX)

BNP Paribas Arbitrage SA reduced its stake in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 55.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,754 shares of the bank’s stock after selling 6,020 shares during the period. BNP Paribas Arbitrage SA’s holdings in Independent Bank Group were worth $336,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ellington Management Group LLC acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $203,000. Comerica Bank acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $219,000. Teacher Retirement System of Texas acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $301,000. Icon Wealth Partners LLC acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $340,000. Finally, Aperio Group LLC acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $383,000. Hedge funds and other institutional investors own 59.54% of the company’s stock.

Several analysts have commented on IBTX shares. ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, May 18th. Finally, SunTrust Banks raised their target price on shares of Independent Bank Group to $80.00 and gave the stock a “hold” rating in a report on Tuesday, May 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Independent Bank Group has a consensus rating of “Buy” and an average target price of $75.00.

In other news, COO James C. White sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $75.50, for a total transaction of $52,850.00. Following the completion of the transaction, the chief operating officer now directly owns 12,898 shares of the company’s stock, valued at approximately $973,799. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. White sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $69.76, for a total transaction of $87,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,950 shares of company stock valued at $517,850 over the last ninety days. Company insiders own 10.90% of the company’s stock.

Shares of IBTX stock opened at $66.80 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 19.36 and a beta of 1.26. Independent Bank Group Inc has a 52 week low of $51.70 and a 52 week high of $79.00.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, April 23rd. The bank reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.04). The business had revenue of $83.42 million for the quarter, compared to the consensus estimate of $83.80 million. Independent Bank Group had a return on equity of 7.81% and a net margin of 23.25%. During the same period in the prior year, the business earned $0.84 earnings per share. analysts forecast that Independent Bank Group Inc will post 4.6 EPS for the current year.

About Independent Bank Group

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 Group (NASDAQ:IBTX)

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