Independent Bank Group, Inc (IBTX) Stake Decreased by Goodman Financial Corp

Goodman Financial Corp decreased its stake in Independent Bank Group, Inc (NASDAQ:IBTX) by 22.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,934 shares of the bank’s stock after selling 4,000 shares during the period. Goodman Financial Corp owned 0.05% of Independent Bank Group worth $829,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Independent Bank Group by 2,892.1% in the second quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock valued at $112,000 after buying an additional 1,822 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Independent Bank Group by 108.5% in the first quarter. Acrospire Investment Management LLC now owns 2,498 shares of the bank’s stock valued at $161,000 after buying an additional 1,300 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Independent Bank Group by 16.2% in the first 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. Karp Capital Management Corp purchased a new position in Independent Bank Group during the first quarter valued at approximately $202,000. Finally, Sapphire Star Partners LP purchased a new position in Independent Bank Group during the first quarter valued at approximately $285,000. 41.47% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Group, Inc (NASDAQ:IBTX) traded up 0.27% during midday trading on Wednesday, hitting $56.20. 6,517 shares of the company were exchanged. The stock has a 50 day moving average of $59.13 and a 200-day moving average of $60.63. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 18.77 and a beta of 1.26. Independent Bank Group, Inc has a 1-year low of $42.73 and a 1-year high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, July 24th. The bank reported $0.82 earnings per share for the quarter, hitting the consensus estimate of $0.82. The company had revenue of $80.50 million for the quarter, compared to the consensus estimate of $81.31 million. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. Independent Bank Group’s revenue was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Equities analysts expect that Independent Bank Group, Inc will post $3.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, August 3rd. Independent Bank Group’s dividend payout ratio is presently 13.16%.

Several research firms have commented on IBTX. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Tuesday. 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 research report on Wednesday, July 26th. Stephens reissued a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a research report on Tuesday, July 25th. Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Finally, ValuEngine raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $69.60.

In other Independent Bank Group news, Director John Webb Jennings III sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $185,340.00. Following the sale, the director now owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.

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.