Victory Capital Management Inc. Sells 571 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Victory Capital Management Inc. reduced its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,816 shares of the bank’s stock after selling 571 shares during the quarter. Victory Capital Management Inc.’s holdings in Independent Bank Group were worth $697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Independent Bank Group by 3.4% during the second quarter. State Street Corp now owns 1,919,706 shares of the bank’s stock valued at $142,020,000 after purchasing an additional 62,906 shares during the last quarter. Amalgamated Bank grew its stake in shares of Independent Bank Group by 446.4% during the second quarter. Amalgamated Bank now owns 18,063 shares of the bank’s stock valued at $1,336,000 after purchasing an additional 14,757 shares during the last quarter. Callahan Advisors LLC grew its stake in shares of Independent Bank Group by 154.9% during the second quarter. Callahan Advisors LLC now owns 7,218 shares of the bank’s stock valued at $534,000 after purchasing an additional 4,386 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Independent Bank Group by 6.2% during the second quarter. Profund Advisors LLC now owns 5,034 shares of the bank’s stock valued at $372,000 after purchasing an additional 294 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Independent Bank Group by 4.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 269,866 shares of the bank’s stock valued at $19,965,000 after purchasing an additional 12,499 shares during the last quarter. 71.33% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Michael B. Hobbs sold 2,080 shares of the firm’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $73.85, for a total transaction of $153,608.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle S. Hickox sold 5,000 shares of the firm’s stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $75.06, for a total transaction of $375,300.00. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Shares of IBTX stock opened at $78.80 on Friday. Independent Bank Group, Inc. has a 52-week low of $60.65 and a 52-week high of $80.71. The stock has a market cap of $3.38 billion, a PE ratio of 14.87 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $72.92 and its two-hundred day moving average price is $71.43.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Sunday, October 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.08). The business had revenue of $145.54 million during the quarter, compared to the consensus estimate of $147.96 million. Independent Bank Group had a net margin of 34.62% and a return on equity of 9.05%. During the same period in the previous year, the business posted $1.38 earnings per share. As a group, sell-side analysts predict that Independent Bank Group, Inc. will post 5.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Thursday, November 11th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, November 9th. Independent Bank Group’s dividend payout ratio (DPR) is currently 27.17%.

Separately, Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Wednesday.

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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