Alliancebernstein L.P. increased its position in Independent Bank Group Inc (NASDAQ:IBTX) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 710,307 shares of the bank’s stock after acquiring an additional 68,589 shares during the quarter. Alliancebernstein L.P.’s holdings in Independent Bank Group were worth $48,017,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank bought a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $219,000. BNP Paribas Arbitrage SA boosted its position in shares of Independent Bank Group by 54.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock valued at $175,000 after acquiring an additional 1,023 shares during the period. Navellier & Associates Inc bought a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $212,000. Teacher Retirement System of Texas bought a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $301,000. Finally, Lockheed Martin Investment Management Co. bought a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $338,000. Institutional investors own 56.29% of the company’s stock.
IBTX has been the subject of a number of analyst reports. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. SunTrust Banks restated a “hold” rating and issued a $75.00 price objective on shares of Independent Bank Group in a research 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 research note on Wednesday, January 10th. Finally, Sandler O’Neill reaffirmed a “buy” rating on shares of Independent Bank Group in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Independent Bank Group currently has a consensus rating of “Buy” and a consensus price target of $73.57.
Shares of Independent Bank Group Inc (NASDAQ IBTX) opened at $73.25 on Wednesday. The firm has a market cap of $2,108.93, a P/E ratio of 24.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 1.04. Independent Bank Group Inc has a one year low of $51.70 and a one year high of $75.95.
Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, January 29th. The bank reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to analysts’ expectations of $83.85 million. Independent Bank Group had a net margin of 21.91% and a return on equity of 7.79%. During the same period in the prior year, the business earned $0.83 earnings per share. equities analysts anticipate that Independent Bank Group Inc will post 4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, February 12th were paid a $0.12 dividend. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, February 9th. Independent Bank Group’s dividend payout ratio (DPR) is currently 16.05%.
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Independent Bank Group Company 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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