Clover Partners buys $9,805,213 stake in Independent Bank Group Inc (IBTX)

Independent Bank Group Inc (IBTX) : Clover Partners scooped up 40,886 additional shares in Independent Bank Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 232,131 shares of Independent Bank Group Inc which is valued at $9,805,213.Independent Bank Group Inc makes up approximately 3.77% of Clover Partners’s portfolio.

Other Hedge Funds, Including , Dreman Value Management L L C added IBTX to its portfolio by purchasing 73 company shares during the most recent quarter which is valued at $3,084. Citadel Advisors added IBTX to its portfolio by purchasing 4,971 company shares during the most recent quarter which is valued at $209,975. Geneva Advisors added IBTX to its portfolio by purchasing 18,645 company shares during the most recent quarter which is valued at $788,870. Independent Bank Group Inc makes up approx 0.02% of Geneva Advisors’s portfolio.

Independent Bank Group Inc opened for trading at $44.16 and hit $44.49 on the upside on Thursday, eventually ending the session at $44.17, with a gain of 0.57% or 0.25 points. The heightened volatility saw the trading volume jump to 36,906 shares. Company has a market cap of $816 M.

On the company’s financial health, Independent Bank Group Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.70. The company had revenue of $50.81 million for the quarter, compared to analysts expectations of $50.32 million. The company’s revenue was up 21.3% compared to the same quarter last year.

Many Wall Street Analysts have commented on Independent Bank Group Inc. Company shares were Reiterated by Hovde Group on Jul 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 45.50 from a previous price target of $43 .Raymond James Initiated Independent Bank Group Inc on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $44.Independent Bank Group Inc was Upgraded by Evercore ISI to ” Buy” on Jun 9, 2016.

Independent Bank Group Inc. is bank holding company. Through the Company’s wholly owned subsidiary Independent Bank (the Bank) the Company provides a range of relationship-driven commercial banking products and services tailored to meet the needs of businesses professionals and individuals. Commercial lending products include owner-occupied commercial real estate loans interim construction loans commercial loans to a diversified mix of small and midsized businesses and loans to professionals particularly medical practices. Retail lending products include residential first and second mortgage loans and consumer installment loans such as loans to purchase cars boats and other recreational vehicles. The Company operates approximately 39 banking offices in the Dallas-Fort Worth metropolitan area the Austin/Central Texas area and the Houston metropolitan area.

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