First Trust Advisors LP Has $2.51 Million Holdings in Independent Bank Group Inc (IBTX)

First Trust Advisors LP boosted its stake in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,802 shares of the bank’s stock after acquiring an additional 1,512 shares during the quarter. First Trust Advisors LP’s holdings in Independent Bank Group were worth $2,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Independent Bank Group by 64.7% during the fourth quarter. Bank of Montreal Can now owns 1,130 shares of the bank’s stock valued at $52,000 after buying an additional 444 shares during the period. Eqis Capital Management Inc. boosted its position in shares of Independent Bank Group by 16.2% during the fourth quarter. Eqis Capital Management Inc. now owns 4,809 shares of the bank’s stock valued at $220,000 after buying an additional 669 shares during the period. Swiss National Bank boosted its position in shares of Independent Bank Group by 4.1% during the third quarter. Swiss National Bank now owns 28,152 shares of the bank’s stock valued at $1,866,000 after buying an additional 1,100 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Independent Bank Group by 16.6% during the third quarter. Envestnet Asset Management Inc. now owns 10,829 shares of the bank’s stock valued at $718,000 after buying an additional 1,544 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Independent Bank Group by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 106,405 shares of the bank’s stock valued at $7,107,000 after buying an additional 1,590 shares during the period. 67.29% of the stock is currently owned by institutional investors.

Shares of NASDAQ:IBTX opened at $55.59 on Friday. Independent Bank Group Inc has a 1 year low of $44.14 and a 1 year high of $79.00. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 12.46 and a beta of 1.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.28.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, January 28th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.09). The firm had revenue of $97.00 million during the quarter, compared to analysts’ expectations of $98.47 million. Independent Bank Group had a net margin of 28.53% and a return on equity of 8.72%. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts anticipate that Independent Bank Group Inc will post 5.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Monday, February 11th were issued a $0.25 dividend. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, February 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Independent Bank Group’s payout ratio is presently 22.42%.

Several research analysts have issued reports on the company. BidaskClub lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. Zacks Investment Research upgraded Independent Bank Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Stephens restated a “buy” rating and set a $61.00 target price on shares of Independent Bank Group in a research report on Wednesday, December 19th. Finally, Raymond James lowered Independent Bank Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $72.00 to $61.00 in a research report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $68.20.

In related news, Director Paul W. Taylor sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.22, for a total value of $286,100.00. Following the completion of the sale, the director now owns 36,229 shares in the company, valued at $2,073,023.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul W. Taylor sold 12,667 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $52.88, for a total value of $669,830.96. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by insiders.

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Independent Bank Group Profile

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

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