Principal Financial Group Inc. raised its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,006 shares of the bank’s stock after purchasing an additional 3,525 shares during the period. Principal Financial Group Inc.’s holdings in Independent Bank Group were worth $23,230,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Independent Bank Group by 154.3% in the 1st quarter. Ameriprise Financial Inc. now owns 462,677 shares of the bank’s stock valued at $33,424,000 after purchasing an additional 280,758 shares during the period. BlackRock Inc. lifted its holdings in shares of Independent Bank Group by 4.4% during the first quarter. BlackRock Inc. now owns 6,021,735 shares of the bank’s stock valued at $435,008,000 after acquiring an additional 252,591 shares during the period. American Century Companies Inc. increased its stake in shares of Independent Bank Group by 21.2% in the second quarter. American Century Companies Inc. now owns 1,314,502 shares of the bank’s stock valued at $97,247,000 after buying an additional 229,916 shares in the last quarter. Millennium Management LLC increased its stake in shares of Independent Bank Group by 145.1% in the first quarter. Millennium Management LLC now owns 243,880 shares of the bank’s stock valued at $17,618,000 after buying an additional 144,363 shares in the last quarter. Finally, Royce & Associates LP increased its position in Independent Bank Group by 11.9% in the first quarter. Royce & Associates LP now owns 535,723 shares of the bank’s stock worth $38,701,000 after purchasing an additional 56,819 shares during the period. Hedge funds and other institutional investors own 71.39% of the company’s stock.
In other Independent Bank Group news, EVP James C. White sold 1,250 shares of the company’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $69.95, for a total value 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 approximately $1,066,947.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Sunday, July 25th. The bank reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.04. Independent Bank Group had a return on equity of 9.41% and a net margin of 34.94%. The business had revenue of $145.22 million during the quarter, compared to the consensus estimate of $149.30 million. As a group, equities research analysts anticipate that Independent Bank Group, Inc. will post 5.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Thursday, August 5th were given a dividend of $0.34 per share. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, August 4th. Independent Bank Group’s dividend payout ratio is currently 27.93%.
Separately, Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $77.38.
About Independent Bank Group
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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