Victory Capital Management Inc. reduced its holdings in shares of Independent Bank Group, Inc (NASDAQ:IBTX) by 86.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,658 shares of the bank’s stock after selling 17,416 shares during the quarter. Victory Capital Management Inc.’s holdings in Independent Bank Group were worth $158,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IBTX. Teachers Advisors LLC raised its position in shares of Independent Bank Group by 27.8% during the 4th quarter. Teachers Advisors LLC now owns 22,852 shares of the bank’s stock valued at $1,426,000 after acquiring an additional 4,969 shares in the last quarter. Wells Fargo & Company MN increased its position in Independent Bank Group by 18.5% in the first quarter. Wells Fargo & Company MN now owns 30,599 shares of the bank’s stock worth $1,968,000 after buying an additional 4,775 shares during the period. First Trust Advisors LP increased its position in Independent Bank Group by 38.4% in the first quarter. First Trust Advisors LP now owns 74,333 shares of the bank’s stock worth $4,780,000 after buying an additional 20,627 shares during the period. US Bancorp DE increased its position in Independent Bank Group by 898.4% in the first quarter. US Bancorp DE now owns 7,528 shares of the bank’s stock worth $484,000 after buying an additional 6,774 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Independent Bank Group by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 83,005 shares of the bank’s stock worth $5,338,000 after buying an additional 5,974 shares during the period. Institutional investors own 46.49% of the company’s stock.

In other news, Director John Webb Jennings III sold 3,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $185,340.00. Following the completion of the transaction, the director now directly owns 38,350 shares of the company’s stock, valued at $2,369,263. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is owned by corporate insiders.

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Shares of Independent Bank Group, Inc (NASDAQ:IBTX) opened at 58.65 on Monday. The stock’s 50 day moving average price is $57.24 and its 200-day moving average price is $59.43. The stock has a market capitalization of $1.63 billion, a P/E ratio of 19.59 and a beta of 1.27. Independent Bank Group, Inc has a 1-year low of $43.00 and a 1-year high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $81.31 million. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. Independent Bank Group’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that Independent Bank Group, Inc will post $3.31 EPS for the current fiscal year.

Several research firms have recently issued reports on IBTX. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 price target on shares of Independent Bank Group in a research note on Friday, September 1st. Stephens reaffirmed a “buy” rating and set a $72.00 target price on shares of Independent Bank Group in a research note on Tuesday, June 20th. ValuEngine raised Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Sandler O’Neill raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, June 26th. Finally, Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $68.00 to $69.00 in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Independent Bank Group currently has an average rating of “Buy” and an average target price of $70.67.

Independent Bank Group 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.

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

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