California Public Employees Retirement System Buys 17,176 Shares of Independent Bank Group Inc (NASDAQ:IBTX)

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California Public Employees Retirement System increased its stake in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 22.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 94,865 shares of the bank’s stock after purchasing an additional 17,176 shares during the quarter. California Public Employees Retirement System owned 0.22% of Independent Bank Group worth $5,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Voya Investment Management LLC boosted its holdings in Independent Bank Group by 2.1% during the 3rd quarter. Voya Investment Management LLC now owns 691,520 shares of the bank’s stock valued at $36,381,000 after acquiring an additional 14,352 shares during the period. Millennium Management LLC boosted its holdings in Independent Bank Group by 272.4% during the 3rd quarter. Millennium Management LLC now owns 426,773 shares of the bank’s stock valued at $22,452,000 after acquiring an additional 312,164 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Independent Bank Group by 90.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 151,683 shares of the bank’s stock valued at $8,409,000 after acquiring an additional 72,018 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Independent Bank Group by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,664 shares of the bank’s stock valued at $2,823,000 after acquiring an additional 5,949 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Independent Bank Group by 4.3% during the 3rd quarter. Rhumbline Advisers now owns 53,118 shares of the bank’s stock valued at $2,795,000 after acquiring an additional 2,188 shares during the period. Institutional investors own 64.54% of the company’s stock.

Shares of IBTX stock opened at $55.66 on Friday. Independent Bank Group Inc has a twelve month low of $47.58 and a twelve month high of $63.16. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.45 and a beta of 1.36. The stock has a fifty day simple moving average of $54.45 and a two-hundred day simple moving average of $54.00. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.03. Independent Bank Group had a return on equity of 9.71% and a net margin of 26.36%. The business had revenue of $146.30 million during the quarter, compared to analysts’ expectations of $141.55 million. Research analysts predict that Independent Bank Group Inc will post 5.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Friday, February 7th. Independent Bank Group’s dividend payout ratio is 19.69%.

A number of equities analysts recently issued reports on IBTX shares. ValuEngine upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a report on Sunday, February 9th. Stephens upgraded Independent Bank Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $67.00 to $61.00 in a report on Wednesday, January 29th. Hovde Group cut Independent Bank Group from an “outperform” rating to a “hold” rating in a report on Wednesday, December 11th. Zacks Investment Research cut Independent Bank Group from a “strong-buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a report on Wednesday. Finally, BidaskClub cut Independent Bank Group from a “sell” rating to a “strong sell” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Independent Bank Group presently has a consensus rating of “Hold” and an average target price of $61.33.

In other news, Director John Webb Jennings III bought 2,200 shares of the stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost of $54.93 per share, for a total transaction of $120,846.00. Following the acquisition, the director now owns 44,990 shares of the company’s stock, valued at $2,471,300.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michelle S. Hickox sold 1,900 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $60.00, for a total value of $114,000.00. Following the sale, the chief financial officer now owns 24,517 shares of the company’s stock, valued at $1,471,020. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by corporate insiders.

About Independent Bank Group

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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

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