Metropolitan Life Insurance Co. NY raised its stake in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the bank’s stock after acquiring an additional 914 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Independent Bank Group were worth $463,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IBTX. Mendon Capital Advisors Corp lifted its stake in Independent Bank Group by 255.3% during the 1st quarter. Mendon Capital Advisors Corp now owns 538,083 shares of the bank’s stock valued at $38,042,000 after acquiring an additional 386,657 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Independent Bank Group by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,232,159 shares of the bank’s stock valued at $82,309,000 after acquiring an additional 246,205 shares in the last quarter. RMB Capital Management LLC lifted its stake in Independent Bank Group by 109.8% during the 1st quarter. RMB Capital Management LLC now owns 438,589 shares of the bank’s stock valued at $31,008,000 after acquiring an additional 229,584 shares in the last quarter. BlackRock Inc. lifted its stake in Independent Bank Group by 15.6% during the 2nd quarter. BlackRock Inc. now owns 1,447,881 shares of the bank’s stock valued at $96,719,000 after acquiring an additional 194,995 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in Independent Bank Group by 326.9% during the 1st quarter. Citadel Advisors LLC now owns 234,806 shares of the bank’s stock valued at $16,601,000 after acquiring an additional 179,804 shares in the last quarter. Institutional investors and hedge funds own 57.20% of the company’s stock.

In related news, CFO Michelle S. Hickox sold 500 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $65.72, for a total value of $32,860.00. Following the sale, the chief financial officer now directly owns 24,036 shares in the company, valued at approximately $1,579,645.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Stacy Smith acquired 25,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was purchased at an average price of $65.90 per share, for a total transaction of $1,647,500.00. Following the completion of the purchase, the director now directly owns 89,974 shares in the company, valued at approximately $5,929,286.60. The disclosure for this purchase can be found here. Insiders own 10.90% of the company’s stock.

IBTX has been the topic of several recent analyst reports. BidaskClub cut Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, September 1st. ValuEngine cut Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Stephens reiterated a “buy” rating and set a $86.00 target price on shares of Independent Bank Group in a research note on Tuesday, July 24th. Hovde Group set a $80.00 target price on Independent Bank Group and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research cut Independent Bank Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.00.

NASDAQ IBTX opened at $66.05 on Friday. The firm has a market cap of $2.05 billion, a PE ratio of 19.29 and a beta of 1.24. Independent Bank Group Inc has a one year low of $58.95 and a one year high of $79.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.60.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, July 23rd. The bank reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.03). The business had revenue of $89.04 million for the quarter, compared to the consensus estimate of $90.43 million. Independent Bank Group had a return on equity of 8.10% and a net margin of 25.16%. During the same quarter in the previous year, the firm earned $0.82 earnings per share. sell-side analysts forecast that Independent Bank Group Inc will post 4.57 EPS for the current fiscal year.

About Independent Bank Group

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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