Independent Bank Group, Inc. (NASDAQ:IBTX) Position Decreased by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC decreased its holdings in Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 10.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,075 shares of the bank's stock after selling 11,083 shares during the period. Chartwell Investment Partners LLC owned about 0.24% of Independent Bank Group worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Independent Bank Group during the first quarter worth $30,000. Blue Trust Inc. boosted its stake in Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank's stock worth $50,000 after buying an additional 820 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter valued at approximately $203,000. AQR Capital Management LLC purchased a new stake in Independent Bank Group in the second quarter valued at $212,000. Finally, Hennessy Advisors Inc. acquired a new position in Independent Bank Group in the second quarter valued at about $228,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Group Stock Down 2.6 %

Shares of NASDAQ:IBTX traded down $1.76 during mid-day trading on Tuesday, hitting $64.85. 206,759 shares of the company traded hands, compared to its average volume of 238,491. The firm's 50 day simple moving average is $58.48 and its 200 day simple moving average is $51.88. The firm has a market cap of $2.69 billion, a P/E ratio of -6.37 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Independent Bank Group, Inc. has a 52-week low of $35.25 and a 52-week high of $67.92.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The business had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. During the same quarter last year, the business earned $0.79 EPS. On average, equities analysts anticipate that Independent Bank Group, Inc. will post 2.51 EPS for the current year.

Independent Bank Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, October 31st. Independent Bank Group's payout ratio is currently -14.53%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial lowered their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a "hold" rating for the company in a research note on Wednesday, October 23rd. StockNews.com initiated coverage on Independent Bank Group in a report on Wednesday, November 6th. They issued a "sell" rating for the company. Finally, Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Independent Bank Group presently has a consensus rating of "Hold" and an average price target of $58.83.

About Independent Bank Group

Independent Bank Group, Inc, through its subsidiary, Independent Bank provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.