Independent Bank Group, Inc (IBTX) Short Interest Up 76.7% in November
Independent Bank Group, Inc (NASDAQ:IBTX) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,232,274 shares, a growth of 76.7% from the October 31st total of 697,252 shares. Approximately 7.5% of the shares of the company are short sold. Based on an average daily volume of 171,591 shares, the short-interest ratio is presently 7.2 days.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at $68.95 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.03. Independent Bank Group has a twelve month low of $51.70 and a twelve month high of $70.45. The firm has a market cap of $1,853.35, a PE ratio of 19.72 and a beta of 1.29.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. The business had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. During the same quarter last year, the company earned $0.78 EPS. analysts expect that Independent Bank Group will post 3.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were issued a $0.10 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.58%. Independent Bank Group’s dividend payout ratio (DPR) is presently 12.90%.
IBTX has been the topic of a number of research reports. Zacks Investment Research raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a report on Thursday, October 19th. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $71.40.
In other Independent Bank Group news, Vice Chairman Brian E. Hobart sold 22,500 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $60.71, for a total transaction of $1,365,975.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Daniel W. Brooks sold 25,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The disclosure for this sale can be found here. Insiders have sold 87,397 shares of company stock worth $5,565,604 over the last three months. 7.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in IBTX. BNP Paribas Arbitrage SA increased its holdings in shares of Independent Bank Group by 2,892.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock worth $112,000 after acquiring an additional 1,822 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Independent Bank Group by 16.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock worth $179,000 after acquiring an additional 389 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Independent Bank Group in the 2nd quarter worth about $251,000. Airain ltd acquired a new stake in shares of Independent Bank Group in the 2nd quarter worth about $256,000. Finally, Legal & General Group Plc increased its holdings in shares of Independent Bank Group by 66.9% in the 2nd quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock worth $266,000 after acquiring an additional 1,792 shares during the period. 49.83% of the stock is currently owned by institutional investors and hedge funds.
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About Independent Bank Group
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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