Royce & Associates LP lessened its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 33.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,045 shares of the bank's stock after selling 15,833 shares during the quarter. Royce & Associates LP owned about 0.07% of Independent Bank Group worth $1,790,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in IBTX. Silver Lake Advisory LLC acquired a new position in Independent Bank Group during the 2nd quarter worth $5,491,000. Bessemer Group Inc. grew its position in shares of Independent Bank Group by 6.8% during the first quarter. Bessemer Group Inc. now owns 226,860 shares of the bank's stock worth $10,357,000 after buying an additional 14,534 shares in the last quarter. Water Island Capital LLC purchased a new stake in shares of Independent Bank Group during the second quarter worth approximately $806,000. Magnetar Financial LLC acquired a new stake in Independent Bank Group in the second quarter valued at approximately $14,146,000. Finally, Hennessy Advisors Inc. purchased a new position in Independent Bank Group in the second quarter worth approximately $228,000. Hedge funds and other institutional investors own 77.90% of the company's stock.
Independent Bank Group Stock Down 1.4 %
Shares of NASDAQ:IBTX traded down $0.90 during trading on Wednesday, hitting $62.39. 33,760 shares of the company were exchanged, compared to its average volume of 237,227. The firm's 50 day moving average price is $59.35 and its 200-day moving average price is $52.95. Independent Bank Group, Inc. has a 12-month low of $36.16 and a 12-month high of $67.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $2.59 billion, a P/E ratio of -6.05 and a beta of 1.38.
Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $255.18 million during the quarter, compared to analysts' expectations of $124.48 million. Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. During the same period last year, the firm earned $0.79 earnings per share. On average, research analysts predict that Independent Bank Group, Inc. will post 2.51 earnings per share for the current fiscal year.
Independent Bank Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.44%. Independent Bank Group's dividend payout ratio is presently -14.53%.
Analysts Set New Price Targets
A number of brokerages have commented on IBTX. StockNews.com started coverage on shares of Independent Bank Group in a research report on Thursday, November 14th. They issued a "sell" rating on the stock. Truist Financial lowered their target price 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. Finally, Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Independent Bank Group has an average rating of "Hold" and a consensus price target of $58.83.
Read Our Latest Stock Report on IBTX
Independent Bank Group Company Profile
(
Free Report)
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.
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