Russell Investments Group Ltd. bought a new position in Independent Bank Group Inc (NASDAQ:IBTX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,618 shares of the company’s stock, valued at approximately $2,533,000.
Several other institutional investors have also made changes to their positions in the company. RGT Capital Management Ltd. purchased a new position in Independent Bank Group during the third quarter worth $1,278,000. SECOR Capital Advisors LP raised its position in Independent Bank Group by 8.6% in the third quarter. SECOR Capital Advisors LP now owns 34,455 shares of the company’s stock worth $1,522,000 after buying an additional 2,742 shares during the period. Spark Investment Management LLC purchased a new position in Independent Bank Group during the third quarter worth $295,000. Geneva Advisors LLC raised its position in Independent Bank Group by 6.7% in the third quarter. Geneva Advisors LLC now owns 19,889 shares of the company’s stock worth $878,000 after buying an additional 1,244 shares during the period. Finally, Matarin Capital Management LLC purchased a new position in Independent Bank Group during the third quarter worth $420,000. Institutional investors and hedge funds own 33.73% of the company’s stock.
Independent Bank Group Inc (NASDAQ:IBTX) opened at 66.00 on Tuesday. Independent Bank Group Inc has a 52-week low of $25.50 and a 52-week high of $66.85. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 22.92 and a beta of 1.30. The company has a 50-day moving average of $63.82 and a 200-day moving average of $55.81.
Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Wednesday, January 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. Independent Bank Group had a return on equity of 8.93% and a net margin of 23.32%. The company had revenue of $51.72 million for the quarter, compared to analyst estimates of $51.97 million. During the same period in the prior year, the company posted $0.63 EPS. Independent Bank Group’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts expect that Independent Bank Group Inc will post $3.53 EPS for the current year.
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IBTX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Independent Bank Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 14th. Hovde Group lifted their price objective on shares of Independent Bank Group from $50.00 to $61.00 and gave the company a “market perform” rating in a research report on Wednesday, November 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.00.
In other Independent Bank Group news, major shareholder Vincent J. Viola sold 40,462 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $63.19, for a total value of $2,556,793.78. Following the transaction, the insider now directly owns 4,211,141 shares of the company’s stock, valued at approximately $266,101,999.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G Stacy Smith sold 21,730 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $62.23, for a total value of $1,352,257.90. Following the completion of the transaction, the director now directly owns 120,151 shares in the company, valued at $7,476,996.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,143 shares of company stock worth $19,813,355. 16.20% of the stock is currently owned by corporate insiders.
Independent Bank Group Company Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.
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