Atom Investors LP Sells 99,673 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Atom Investors LP trimmed its position in Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 69.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 44,424 shares of the bank's stock after selling 99,673 shares during the period. Atom Investors LP owned 0.11% of Independent Bank Group worth $2,561,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Independent Bank Group by 6.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,033 shares of the bank's stock worth $1,006,000 after acquiring an additional 1,273 shares during the period. Howard Financial Services LTD. boosted its position in Independent Bank Group by 0.8% during the second quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank's stock valued at $1,271,000 after acquiring an additional 234 shares during the last quarter. Silver Lake Advisory LLC acquired a new stake in Independent Bank Group during the 2nd quarter worth about $5,491,000. Hennessy Advisors Inc. bought a new position in shares of Independent Bank Group in the 2nd quarter worth about $228,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of Independent Bank Group by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank's stock valued at $824,000 after purchasing an additional 300 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Independent Bank Group Stock Performance

IBTX traded down $0.64 during trading on Tuesday, hitting $66.21. 44,373 shares of the company traded hands, compared to its average volume of 237,882. The firm has a market cap of $2.74 billion, a P/E ratio of -6.39 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group, Inc. has a one year low of $36.47 and a one year high of $68.66. The stock's fifty day moving average is $60.82 and its 200 day moving average is $54.48.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last posted its quarterly 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 company had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same period last year, the firm posted $0.79 EPS. As a group, equities analysts predict that Independent Bank Group, Inc. will post 2.7 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on IBTX. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Saturday. They set a "sell" rating for the company. Keefe, Bruyette & Woods boosted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Truist Financial decreased their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Independent Bank Group has an average 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.