Citadel Advisors LLC lifted its position in Independent Bank Group Inc (NASDAQ:IBTX) by 1,492.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,002 shares of the bank’s stock after acquiring an additional 51,549 shares during the quarter. Citadel Advisors LLC’s holdings in Independent Bank Group were worth $3,718,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Independent Bank Group by 54.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after acquiring an additional 1,023 shares in the last quarter. Comerica Bank acquired a new position in shares of Independent Bank Group in the 4th quarter worth approximately $219,000. Teacher Retirement System of Texas acquired a new position in shares of Independent Bank Group in the 4th quarter worth approximately $301,000. Yorktown Management & Research Co Inc acquired a new position in shares of Independent Bank Group in the 3rd quarter worth approximately $323,000. Finally, Jane Street Group LLC acquired a new position in shares of Independent Bank Group in the 3rd quarter worth approximately $324,000. Institutional investors own 48.61% of the company’s stock.
In related news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.70% of the company’s stock.
Several research analysts have recently commented on IBTX shares. BidaskClub upgraded Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, January 10th. Stephens reiterated a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. Sandler O’Neill reiterated a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. Finally, SunTrust Banks reiterated a “hold” rating and issued a $75.00 target price on shares of Independent Bank Group in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $73.57.
Independent Bank Group Inc (IBTX) opened at $72.60 on Friday. Independent Bank Group Inc has a 12-month low of $51.70 and a 12-month high of $75.95. The stock has a market capitalization of $2,014.57, a P/E ratio of 24.28 and a beta of 1.29. 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 quarterly earnings data 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). Independent Bank Group had a net margin of 21.91% and a return on equity of 8.26%. The company had revenue of $88.83 million for the quarter, compared to analyst estimates of $83.85 million. During the same quarter in the prior year, the firm earned $0.83 EPS. equities analysts forecast that Independent Bank Group Inc will post 4.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors 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 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s payout ratio is currently 16.05%.
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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