Fmr LLC Purchases 279,112 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

FMR LLC lifted its holdings in Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,725,572 shares of the bank's stock after buying an additional 279,112 shares during the period. FMR LLC owned approximately 8.99% of Independent Bank Group worth $214,816,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank's stock worth $50,000 after purchasing an additional 820 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Independent Bank Group during the 3rd quarter valued at $204,000. Hancock Whitney Corp bought a new position in shares of Independent Bank Group during the 3rd quarter worth $222,000. AQR Capital Management LLC purchased a new stake in Independent Bank Group in the 2nd quarter worth about $212,000. Finally, Everence Capital Management Inc. purchased a new stake in Independent Bank Group during the third quarter valued at about $273,000. 77.90% of the stock is owned by institutional investors.

Independent Bank Group Price Performance

Shares of IBTX traded down $0.65 during midday trading on Tuesday, reaching $66.20. The stock had a trading volume of 48,745 shares, compared to its average volume of 237,941. Independent Bank Group, Inc. has a 12-month low of $36.47 and a 12-month high of $68.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company's 50-day moving average is $60.82 and its 200 day moving average is $54.48. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -6.39 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last issued its earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million during the quarter, compared to analysts' expectations of $124.48 million. During the same quarter in the previous year, the business earned $0.79 EPS. On average, equities analysts predict that Independent Bank Group, Inc. will post 2.7 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. Independent Bank Group's dividend payout ratio (DPR) is currently -14.53%.

Analyst Ratings Changes

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

Independent Bank Group Company Profile

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.