Dimensional Fund Advisors LP Increases Stake in Independent Bank Group Inc (IBTX)

Dimensional Fund Advisors LP lifted its holdings in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 14.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,756,303 shares of the bank’s stock after purchasing an additional 216,028 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of Independent Bank Group worth $80,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IBTX. PNC Financial Services Group Inc. acquired a new stake in shares of Independent Bank Group during the fourth quarter worth $32,000. Bank of Montreal Can lifted its holdings in shares of Independent Bank Group by 64.7% during the fourth quarter. Bank of Montreal Can now owns 1,130 shares of the bank’s stock worth $52,000 after purchasing an additional 444 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Independent Bank Group by 87.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 2,402 shares of the bank’s stock worth $106,000 after purchasing an additional 1,121 shares during the period. Eqis Capital Management Inc. lifted its holdings in shares of Independent Bank Group by 16.2% during the fourth quarter. Eqis Capital Management Inc. now owns 4,809 shares of the bank’s stock worth $220,000 after purchasing an additional 669 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Independent Bank Group in the fourth quarter valued at $239,000. Institutional investors and hedge funds own 48.07% of the company’s stock.

A number of equities research analysts have commented on IBTX shares. BidaskClub raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Zacks Investment Research raised Independent Bank Group from a “strong sell” rating to a “hold” rating in a report on Saturday, February 2nd. ValuEngine downgraded Independent Bank Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Finally, Stephens set a $69.00 target price on Independent Bank Group and gave the company a “buy” rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Independent Bank Group presently has a consensus rating of “Hold” and a consensus price target of $66.40.

Independent Bank Group stock opened at $53.94 on Tuesday. Independent Bank Group Inc has a one year low of $44.14 and a one year high of $79.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.09 and a beta of 1.49.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, April 22nd. The bank reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Independent Bank Group had a return on equity of 8.92% and a net margin of 26.04%. The company had revenue of $138.08 million during the quarter, compared to the consensus estimate of $137.40 million. On average, analysts predict that Independent Bank Group Inc will post 5.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, May 3rd. Independent Bank Group’s dividend payout ratio (DPR) is currently 22.42%.

In other news, Director Paul W. Taylor sold 5,000 shares of Independent Bank Group stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $57.22, for a total transaction of $286,100.00. Following the completion of the transaction, the director now owns 36,229 shares of the company’s stock, valued at approximately $2,073,023.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul W. Taylor sold 5,300 shares of Independent Bank Group stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $56.79, for a total value of $300,987.00. Following the transaction, the director now directly owns 30,929 shares of the company’s stock, valued at approximately $1,756,457.91. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by company insiders.

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Independent Bank Group 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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