Independent Bank Gr (IBTX) Holdings Reduced by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY lowered its holdings in Independent Bank Gr (NASDAQ:IBTX) by 53.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,732 shares of the bank’s stock after selling 6,481 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Independent Bank Gr were worth $387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of IBTX. Nationwide Fund Advisors lifted its stake in shares of Independent Bank Gr by 85.7% during the third quarter. Nationwide Fund Advisors now owns 39,729 shares of the bank’s stock valued at $2,396,000 after acquiring an additional 18,335 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Independent Bank Gr by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 96,227 shares of the bank’s stock valued at $5,802,000 after acquiring an additional 3,565 shares during the period. American International Group Inc. lifted its stake in shares of Independent Bank Gr by 8.1% during the third quarter. American International Group Inc. now owns 11,838 shares of the bank’s stock valued at $714,000 after acquiring an additional 885 shares during the period. Legal & General Group Plc lifted its stake in shares of Independent Bank Gr by 53.7% during the third quarter. Legal & General Group Plc now owns 6,872 shares of the bank’s stock valued at $415,000 after acquiring an additional 2,400 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Independent Bank Gr by 42.3% during the third quarter. Wells Fargo & Company MN now owns 41,102 shares of the bank’s stock valued at $2,478,000 after acquiring an additional 12,220 shares during the period. 56.29% of the stock is currently owned by institutional investors.

In other Independent Bank Gr news, Director John Webb Jennings III sold 2,750 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $73.15, for a total value of $201,162.50. Following the completion of the sale, the director now directly owns 36,206 shares in the company, valued at $2,648,468.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas A. Cifu sold 29,458 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $74.26, for a total value of $2,187,551.08. Following the completion of the sale, the director now owns 45,213 shares of the company’s stock, valued at $3,357,517.38. The disclosure for this sale can be found here. Insiders sold 62,299 shares of company stock valued at $4,551,649 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on IBTX. Zacks Investment Research lowered Independent Bank Gr from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. BidaskClub downgraded Independent Bank Gr from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Stephens reiterated a “buy” rating on shares of Independent Bank Gr in a report on Wednesday, January 31st. Sandler O’Neill reiterated a “buy” rating on shares of Independent Bank Gr in a report on Wednesday, January 31st. Finally, SunTrust Banks reiterated a “neutral” rating on shares of Independent Bank Gr in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.57.

NASDAQ IBTX opened at $70.70 on Tuesday. The stock has a market capitalization of $2,004.05, a P/E ratio of 20.49 and a beta of 1.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.52. Independent Bank Gr has a 12 month low of $51.70 and a 12 month high of $75.95.

Independent Bank Gr (NASDAQ:IBTX) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to the consensus estimate of $83.85 million. Independent Bank Gr had a net margin of 21.91% and a return on equity of 7.79%. During the same quarter in the prior year, the company posted $0.83 EPS. equities research analysts predict that Independent Bank Gr will post 4.77 EPS for the current year.

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Independent Bank Gr Company Profile

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.

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

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