Chartwell Investment Partners LLC Cuts Stake in Independent Bank Group Inc (IBTX)

Chartwell Investment Partners LLC lessened its position in shares of Independent Bank Group Inc (NASDAQ:IBTX) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,135 shares of the bank’s stock after selling 10,585 shares during the quarter. Independent Bank Group makes up about 0.7% of Chartwell Investment Partners LLC’s holdings, making the stock its 24th largest position. Chartwell Investment Partners LLC owned about 1.03% of Independent Bank Group worth $19,613,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in shares of Independent Bank Group by 54.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after buying an additional 1,023 shares during the last quarter. Comerica Bank acquired a new position in Independent Bank Group in the 4th quarter valued at about $219,000. Virtu KCG Holdings LLC acquired a new position in Independent Bank Group in the 2nd quarter valued at about $251,000. Teacher Retirement System of Texas acquired a new position in Independent Bank Group in the 4th quarter valued at about $301,000. Finally, Yorktown Management & Research Co Inc acquired a new position in Independent Bank Group in the 3rd quarter valued at about $323,000. 46.59% of the stock is owned by institutional investors and hedge funds.

Shares of Independent Bank Group Inc (NASDAQ IBTX) opened at $71.75 on Thursday. 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 capitalization of $1,982.08, a PE ratio of 20.33 and a beta of 1.29. Independent Bank Group Inc has a fifty-two week low of $51.70 and a fifty-two week high of $75.95.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, January 29th. The bank reported $0.90 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.03). The business had revenue of $88.83 million during the quarter, compared to analysts’ expectations of $83.85 million. Independent Bank Group had a net margin of 21.91% and a return on equity of 8.26%. During the same quarter last year, the firm earned $0.83 EPS. equities research analysts forecast that Independent Bank Group Inc will post 4.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be issued a $0.12 dividend. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.48 annualized dividend and a yield of 0.67%. Independent Bank Group’s payout ratio is 16.05%.

Several research analysts recently weighed in on the stock. Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a research note on Wednesday, January 31st. BidaskClub downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 target price on shares of Independent Bank Group in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, January 10th. Finally, Stephens reissued a “buy” rating on shares of Independent Bank Group in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.57.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 25,000 shares of Independent Bank Group stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total value of $1,707,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by insiders.

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Independent Bank Group Company 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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