Victory Capital Management Inc. Acquires 28,689 Shares of Independent Bank Group Inc (IBTX)
Victory Capital Management Inc. lifted its holdings in Independent Bank Group Inc (NASDAQ:IBTX) by 16.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 203,669 shares of the bank’s stock after purchasing an additional 28,689 shares during the quarter. Victory Capital Management Inc. owned 0.67% of Independent Bank Group worth $13,605,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG raised its position in shares of Independent Bank Group by 74.3% during the 4th quarter. Deutsche Bank AG now owns 42,047 shares of the bank’s stock valued at $2,839,000 after acquiring an additional 17,928 shares during the last quarter. Rhumbline Advisers raised its stake in Independent Bank Group by 11.7% during the first quarter. Rhumbline Advisers now owns 19,263 shares of the bank’s stock worth $1,362,000 after buying an additional 2,025 shares during the last quarter. Swiss National Bank increased its stake in Independent Bank Group by 4.2% in the first quarter. Swiss National Bank now owns 27,052 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 1,100 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Independent Bank Group by 4.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 92,988 shares of the bank’s stock valued at $6,575,000 after buying an additional 4,158 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in Independent Bank Group by 7.0% during the first quarter. American International Group Inc. now owns 12,730 shares of the bank’s stock worth $900,000 after purchasing an additional 834 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.
IBTX opened at $69.30 on Monday. Independent Bank Group Inc has a one year low of $51.70 and a one year high of $79.00. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 20.09 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.60.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 6th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, August 3rd. Independent Bank Group’s dividend payout ratio is currently 16.23%.
In related news, Director G Stacy Smith bought 17,000 shares of the business’s stock in a transaction on Friday, May 25th. The shares were bought at an average cost of $74.75 per share, for a total transaction of $1,270,750.00. Following the completion of the acquisition, the director now directly owns 89,974 shares in the company, valued at $6,725,556.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jan C. Webb sold 5,000 shares of Independent Bank Group stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $75.56, for a total value of $377,800.00. Following the completion of the transaction, the executive vice president now owns 17,295 shares in the company, valued at $1,306,810.20. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 52,000 shares of company stock worth $3,809,600. 10.90% of the stock is owned by insiders.
Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Hovde Group set a $80.00 price target on shares of Independent Bank Group and gave the stock a “buy” rating in a research report on Wednesday, July 25th. ValuEngine lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. SunTrust Banks upped their price objective on shares of Independent Bank Group to $80.00 and gave the company a “hold” rating in a report on Tuesday, May 15th. Finally, Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $78.00.
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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