Independent Bank Group, Inc (IBTX) Shares Bought by American International Group Inc.

American International Group Inc. grew its holdings in Independent Bank Group, Inc (NASDAQ:IBTX) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,838 shares of the bank’s stock after purchasing an additional 885 shares during the quarter. American International Group Inc.’s holdings in Independent Bank Group were worth $714,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Independent Bank Group by 29.9% in the second quarter. State Street Corp now owns 449,148 shares of the bank’s stock valued at $26,725,000 after buying an additional 103,332 shares during the period. First Trust Advisors LP lifted its stake in shares of Independent Bank Group by 6.9% in the second quarter. First Trust Advisors LP now owns 79,444 shares of the bank’s stock valued at $4,727,000 after buying an additional 5,111 shares during the period. John W. Rosenthal Capital Management Inc. bought a new stake in shares of Independent Bank Group in the third quarter valued at about $2,147,000. Northern Trust Corp lifted its stake in shares of Independent Bank Group by 51.9% in the second quarter. Northern Trust Corp now owns 209,830 shares of the bank’s stock valued at $12,486,000 after buying an additional 71,705 shares during the period. Finally, Citadel Advisors LLC lifted its stake in shares of Independent Bank Group by 190.9% in the second quarter. Citadel Advisors LLC now owns 10,534 shares of the bank’s stock valued at $627,000 after buying an additional 6,913 shares during the period. 47.72% of the stock is currently owned by institutional investors.

IBTX has been the subject of several research reports. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 target price on shares of Independent Bank Group in a research note on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $71.00 target price on shares of Independent Bank Group in a research note on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $71.40.

Independent Bank Group, Inc (NASDAQ:IBTX) opened at $69.00 on Friday. The company has a market cap of $1,954.06, a PE ratio of 22.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04. Independent Bank Group, Inc has a one year low of $51.70 and a one year high of $72.28.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $84.99 million during the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. During the same quarter last year, the company earned $0.78 earnings per share. equities analysts expect that Independent Bank Group, Inc will post 3.47 EPS for the current year.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $60.67, for a total transaction of $455,207.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Daniel W. Brooks sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,397 shares of company stock valued at $5,565,604. Corporate insiders own 7.70% of the company’s stock.

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About Independent Bank Group

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.

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

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