Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 5.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,069 shares of the bank’s stock after buying an additional 1,576 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Independent Bank Group worth $2,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors increased its holdings in shares of Independent Bank Group by 82.8% in the 1st quarter. Captrust Financial Advisors now owns 883 shares of the bank’s stock worth $64,000 after acquiring an additional 400 shares during the period. The PNC Financial Services Group Inc. grew its position in Independent Bank Group by 32.7% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,186 shares of the bank’s stock worth $86,000 after purchasing an additional 292 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Independent Bank Group by 15.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,374 shares of the bank’s stock valued at $102,000 after purchasing an additional 188 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Independent Bank Group during the first quarter valued at approximately $110,000. Finally, Corsicana & Co. acquired a new position in shares of Independent Bank Group during the second quarter worth approximately $148,000. 71.39% of the stock is owned by institutional investors.

Separately, Zacks Investment Research downgraded Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $77.38.

In related news, EVP James C. White sold 1,250 shares of the firm’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the executive vice president now owns 15,253 shares of the company’s stock, valued at $1,066,947.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.00% of the company’s stock.

IBTX stock opened at $65.42 on Friday. The firm’s 50-day moving average is $69.45 and its two-hundred day moving average is $73.24. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.94 and a beta of 1.94. Independent Bank Group, Inc. has a 52 week low of $41.09 and a 52 week high of $80.71. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Sunday, July 25th. The bank reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.04. The firm had revenue of $145.22 million for the quarter, compared to analysts’ expectations of $149.30 million. Independent Bank Group had a return on equity of 9.41% and a net margin of 34.94%. On average, equities research analysts predict that Independent Bank Group, Inc. will post 5.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, August 4th. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.32. Independent Bank Group’s payout ratio is currently 27.93%.

Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company, which engages in the provision of a relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. It offers checking, savings, commercial loans, business services and cash management solutions.

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

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