Swiss National Bank increased its stake in Independent Bank Group Inc (NASDAQ:IBTX) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,152 shares of the bank’s stock after purchasing an additional 1,100 shares during the quarter. Swiss National Bank owned 0.09% of Independent Bank Group worth $1,866,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. UBS Group AG boosted its holdings in shares of Independent Bank Group by 1,441.6% during the 1st quarter. UBS Group AG now owns 2,559 shares of the bank’s stock valued at $181,000 after acquiring an additional 2,393 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Independent Bank Group by 13.9% during the 1st quarter. Principal Financial Group Inc. now owns 13,584 shares of the bank’s stock valued at $960,000 after acquiring an additional 1,660 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Independent Bank Group by 27.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,354 shares of the bank’s stock valued at $565,000 after acquiring an additional 1,791 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Independent Bank Group by 32.0% during the 2nd quarter. TD Asset Management Inc. now owns 15,952 shares of the bank’s stock valued at $1,066,000 after acquiring an additional 3,866 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Independent Bank Group by 37.5% during the 2nd quarter. First Trust Advisors LP now owns 62,151 shares of the bank’s stock valued at $4,152,000 after acquiring an additional 16,935 shares in the last quarter. Institutional investors own 61.06% of the company’s stock.
IBTX has been the topic of several recent research reports. BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. Zacks Investment Research downgraded Independent Bank Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 28th. Raymond James raised Independent Bank Group from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 4th. They noted that the move was a valuation call. ValuEngine downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Finally, Stephens set a $82.00 price objective on Independent Bank Group and gave the company a “buy” rating in a report on Tuesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $75.00.
NASDAQ IBTX opened at $53.45 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.03. Independent Bank Group Inc has a twelve month low of $52.71 and a twelve month high of $79.00. The firm has a market cap of $1.74 billion, a P/E ratio of 15.49 and a beta of 1.21.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 22nd. The bank reported $1.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.20. The company had revenue of $99.02 million for the quarter, compared to the consensus estimate of $96.47 million. Independent Bank Group had a return on equity of 8.51% and a net margin of 26.53%. During the same quarter last year, the business posted $0.89 EPS. On average, analysts forecast that Independent Bank Group Inc will post 4.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 5th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, November 2nd. Independent Bank Group’s dividend payout ratio is currently 16.23%.
In related news, Director G Stacy Smith bought 25,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average cost of $65.90 per share, with a total value of $1,647,500.00. Following the transaction, the director now directly owns 89,974 shares in the company, valued at $5,929,286.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Webb Jennings III bought 4,500 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were bought at an average cost of $53.89 per share, with a total value of $242,505.00. Following the completion of the transaction, the director now owns 40,706 shares in the company, valued at $2,193,646.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 34,981 shares of company stock valued at $2,190,244. 10.90% of the stock is owned by corporate insiders.
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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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