Independent Bank Group, Inc (IBTX) Holdings Increased by Nationwide Fund Advisors
Nationwide Fund Advisors raised its position in shares of Independent Bank Group, Inc (NASDAQ:IBTX) by 85.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 39,729 shares of the bank’s stock after purchasing an additional 18,335 shares during the quarter. Nationwide Fund Advisors owned approximately 0.14% of Independent Bank Group worth $2,396,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in IBTX. HarbourVest Partners LLC acquired a new stake in Independent Bank Group during the 2nd quarter valued at approximately $44,821,000. Frontier Investment Mgmt Co. increased its position in Independent Bank Group by 193.8% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 228,403 shares of the bank’s stock valued at $13,590,000 after purchasing an additional 150,660 shares during the period. State Street Corp increased its position in Independent Bank Group by 29.9% during the 2nd quarter. State Street Corp now owns 449,148 shares of the bank’s stock valued at $26,725,000 after purchasing an additional 103,332 shares during the period. Vanguard Group Inc. increased its position in Independent Bank Group by 18.1% during the 2nd quarter. Vanguard Group Inc. now owns 616,447 shares of the bank’s stock valued at $36,678,000 after purchasing an additional 94,580 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Independent Bank Group by 21.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 523,915 shares of the bank’s stock valued at $31,173,000 after purchasing an additional 93,282 shares during the period. 47.72% of the stock is owned by institutional investors and hedge funds.
IBTX has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a research report on Wednesday, October 4th. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a research report on Friday, September 1st. BidaskClub raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, Zacks Investment Research raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $71.40.
Independent Bank Group, Inc (IBTX) opened at $69.30 on Thursday. The stock has a market capitalization of $1,950.00, a P/E ratio of 20.86 and a beta of 1.31. Independent Bank Group, Inc has a twelve month low of $51.70 and a twelve month high of $72.28. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. During the same period in the prior year, the business earned $0.78 EPS. sell-side analysts anticipate that Independent Bank Group, Inc will post 3.47 earnings per share for the current fiscal year.
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Independent Bank Group 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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