Public Employees Retirement System of Ohio boosted its stake in shares of Independent Bank Group, Inc (NASDAQ:IBTX) by 16.2% during the first quarter, Holdings Channel reports. The fund owned 2,790 shares of the bank’s stock after buying an additional 389 shares during the period. Public Employees Retirement System of Ohio’s holdings in Independent Bank Group were worth $179,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Sheets Smith Wealth Management increased its stake in Independent Bank Group by 0.9% in the first quarter. Sheets Smith Wealth Management now owns 10,339 shares of the bank’s stock valued at $665,000 after buying an additional 93 shares during the last quarter. ClariVest Asset Management LLC increased its stake in Independent Bank Group by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 7,669 shares of the bank’s stock valued at $493,000 after buying an additional 385 shares during the last quarter. American International Group Inc. increased its stake in Independent Bank Group by 7.1% in the first quarter. American International Group Inc. now owns 6,841 shares of the bank’s stock valued at $440,000 after buying an additional 451 shares during the last quarter. Swiss National Bank increased its stake in Independent Bank Group by 4.0% in the first quarter. Swiss National Bank now owns 18,252 shares of the bank’s stock valued at $1,174,000 after buying an additional 700 shares during the last quarter. Finally, Acrospire Investment Management LLC increased its stake in 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 last quarter. Institutional investors and hedge funds own 41.45% of the company’s stock.

Shares of Independent Bank Group, Inc (NASDAQ:IBTX) traded down 1.78% during mid-day trading on Thursday, hitting $58.05. The stock had a trading volume of 21,919 shares. Independent Bank Group, Inc has a 52-week low of $41.92 and a 52-week high of $66.85. The firm has a market cap of $1.61 billion, a PE ratio of 19.39 and a beta of 1.26. The firm has a 50 day moving average price of $59.33 and a 200 day moving average price of $60.98.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, July 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The firm had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $81.31 million. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities analysts predict that Independent Bank Group, Inc will post $3.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 3rd. Independent Bank Group’s dividend payout ratio is presently 13.16%.

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Several analysts have weighed in on the company. Zacks Investment Research downgraded Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Stephens reiterated a “buy” rating and set a $71.00 price target on shares of Independent Bank Group in a research note on Tuesday, July 25th. BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $68.00 to $69.00 in a research note on Wednesday, July 26th. Finally, ValuEngine upgraded Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.60.

In other Independent Bank Group news, Director John Webb Jennings III sold 3,000 shares of Independent Bank Group stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $61.78, for a total value of $185,340.00. Following the sale, the director now owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is currently owned by insiders.

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

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