35,600 Shares in Independent Bank Group, Inc (IBTX) Purchased by John W. Rosenthal Capital Management Inc.

John W. Rosenthal Capital Management Inc. purchased a new stake in shares of Independent Bank Group, Inc (NASDAQ:IBTX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 35,600 shares of the bank’s stock, valued at approximately $2,147,000. Independent Bank Group makes up approximately 1.6% of John W. Rosenthal Capital Management Inc.’s holdings, making the stock its 28th biggest holding. John W. Rosenthal Capital Management Inc. owned about 0.13% of Independent Bank Group at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Alps Advisors Inc. lifted its stake in shares of Independent Bank Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,559 shares of the bank’s stock valued at $450,000 after buying an additional 20 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Independent Bank Group by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock valued at $179,000 after buying an additional 389 shares in the last quarter. American International Group Inc. lifted its stake in shares of Independent Bank Group by 7.1% during the 1st 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 in the last quarter. California Public Employees Retirement System lifted its stake in shares of Independent Bank Group by 10.9% during the 2nd quarter. California Public Employees Retirement System now owns 6,100 shares of the bank’s stock valued at $363,000 after buying an additional 600 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in shares of Independent Bank Group by 16.7% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,313 shares of the bank’s stock valued at $316,000 after buying an additional 762 shares in the last quarter. Institutional investors own 46.64% of the company’s stock.

Independent Bank Group, Inc (NASDAQ IBTX) traded down $0.05 during trading on Friday, reaching $61.15. 86,100 shares of the company were exchanged, compared to its average volume of 162,961. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.55. The company has a market cap of $1,700.40, a price-to-earnings ratio of 18.09 and a beta of 1.29. Independent Bank Group, Inc has a twelve month low of $50.95 and a twelve month high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results 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. The business had revenue of $84.99 million for the quarter, compared to analyst estimates of $83.00 million. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. During the same quarter in the prior year, the firm posted $0.78 EPS. research analysts anticipate that Independent Bank Group, Inc will post 3.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, November 3rd. Independent Bank Group’s dividend payout ratio (DPR) is presently 12.90%.

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IBTX has been the topic of a number of recent research reports. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Stephens reaffirmed a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a report on Tuesday, July 25th. Keefe, Bruyette & Woods raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a report on Wednesday, July 26th. Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $68.00 to $69.00 in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $71.40.

In other news, Vice Chairman Brian E. Hobart sold 7,500 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $65.00, for a total value of $487,500.00. Following the transaction, the insider now owns 111,022 shares of the company’s stock, valued at approximately $7,216,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Daniel W. Brooks sold 7,503 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $60.67, for a total transaction of $455,207.01. The disclosure for this sale can be found here. Insiders have sold a total of 62,397 shares of company stock worth $3,858,104 in the last ninety days. 7.70% of the stock is currently owned by insiders.

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.

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

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