Stephens Inc. AR Cuts Stock Holdings in Independent Bank Group Inc (NASDAQ:IBTX)

Stephens Inc. AR lowered its stake in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 21.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,539 shares of the bank’s stock after selling 1,271 shares during the quarter. Stephens Inc. AR’s holdings in Independent Bank Group were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Independent Bank Group by 4.9% during the fourth quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock worth $367,000 after acquiring an additional 374 shares during the period. Aperio Group LLC increased its holdings in Independent Bank Group by 5.6% in the second quarter. Aperio Group LLC now owns 7,007 shares of the bank’s stock valued at $385,000 after buying an additional 374 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Independent Bank Group by 2.1% in the second quarter. Commonwealth Equity Services LLC now owns 21,630 shares of the bank’s stock valued at $1,188,000 after buying an additional 450 shares during the last quarter. Toronto Dominion Bank purchased a new position in Independent Bank Group in the first quarter valued at $32,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Independent Bank Group by 132.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,989 shares of the bank’s stock valued at $153,000 after buying an additional 1,702 shares during the last quarter. 62.09% of the stock is currently owned by institutional investors and hedge funds.

In other Independent Bank Group news, Director G Stacy Smith sold 135,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $52.90, for a total value of $7,141,500.00. Following the completion of the transaction, the director now owns 91,022 shares in the company, valued at $4,815,063.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.90% of the company’s stock.

Several research firms recently commented on IBTX. Zacks Investment Research lowered Independent Bank Group from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a report on Friday, May 24th. Stephens reissued a “buy” rating and issued a $67.00 target price on shares of Independent Bank Group in a report on Monday, May 20th. Finally, BidaskClub lowered Independent Bank Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Independent Bank Group currently has an average rating of “Hold” and a consensus target price of $63.00.

NASDAQ IBTX opened at $48.73 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.03 and a quick ratio of 1.02. Independent Bank Group Inc has a 1 year low of $44.14 and a 1 year high of $71.35. The company has a market capitalization of $2.13 billion, a PE ratio of 10.93 and a beta of 1.40. The company has a fifty day moving average of $53.81 and a two-hundred day moving average of $54.54.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.05). Independent Bank Group had a net margin of 26.06% and a return on equity of 9.18%. The company had revenue of $145.84 million during the quarter, compared to analyst estimates of $138.67 million. On average, research analysts expect that Independent Bank Group Inc will post 5.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.00 annualized dividend and a yield of 2.05%. Independent Bank Group’s dividend payout ratio is presently 22.42%.

Independent Bank Group Company Profile

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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

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