RMB Capital Management LLC boosted its stake in shares of Independent Bank Group, Inc (NASDAQ:IBTX) by 456.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,591 shares of the bank’s stock after buying an additional 81,705 shares during the period. RMB Capital Management LLC owned approximately 0.53% of Independent Bank Group worth $6,404,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of Independent Bank Group by 108.5% in the first quarter. Acrospire Investment Management LLC now owns 2,498 shares of the bank’s stock valued at $161,000 after buying an additional 1,300 shares during the period. Karp Capital Management Corp purchased a new position in shares of Independent Bank Group during the first quarter valued at approximately $202,000. Navellier & Associates Inc purchased a new position in shares of Independent Bank Group during the first quarter valued at approximately $285,000. Sapphire Star Partners LP purchased a new position in shares of Independent Bank Group during the first quarter valued at approximately $285,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Independent Bank Group during the first quarter valued at $293,000. Hedge funds and other institutional investors own 33.19% of the company’s stock.
Shares of Independent Bank Group, Inc (NASDAQ IBTX) traded down 2.55% during midday trading on Tuesday, reaching $57.30. The company had a trading volume of 58,457 shares. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 18.90 and a beta of 1.27. The stock has a 50-day moving average of $59.33 and a 200 day moving average of $61.79. Independent Bank Group, Inc has a 52 week low of $34.00 and a 52 week high of $66.85.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, April 24th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $52.45 million during the quarter, compared to analyst estimates of $52 million. Independent Bank Group had a return on equity of 9.08% and a net margin of 24.24%. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, analysts anticipate that Independent Bank Group, Inc will post $3.45 earnings per share for the current year.
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IBTX has been the subject of several analyst reports. Stephens restated a “buy” rating on shares of Independent Bank Group in a report on Monday, April 24th. Zacks Investment Research upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, March 28th. Finally, ValuEngine upgraded Independent Bank Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Independent Bank Group has a consensus rating of “Buy” and an average price target of $54.75.
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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