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Jane Street Group LLC Grows Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Independent Bank Group logo with Finance background

Jane Street Group LLC boosted its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 76.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,046 shares of the bank's stock after purchasing an additional 26,414 shares during the quarter. Jane Street Group LLC owned about 0.15% of Independent Bank Group worth $3,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new position in Independent Bank Group in the 2nd quarter valued at $228,000. Louisiana State Employees Retirement System grew 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 worth $824,000 after purchasing an additional 300 shares in the last quarter. Townsend Asset Management Corp NC ADV acquired a new stake in shares of Independent Bank Group in the second quarter valued at approximately $230,000. Versor Investments LP bought a new stake in shares of Independent Bank Group in the second quarter valued at approximately $1,296,000. Finally, Victory Capital Management Inc. grew its position in Independent Bank Group by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank's stock worth $713,000 after buying an additional 810 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IBTX shares. StockNews.com began coverage on Independent Bank Group in a report on Monday. They set a "sell" rating on the stock. Truist Financial dropped 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 report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.33.

Get Our Latest Stock Report on IBTX

Independent Bank Group Price Performance

Shares of NASDAQ:IBTX traded up $0.94 during trading on Friday, hitting $60.28. 1,104,500 shares of the company were exchanged, compared to its average volume of 246,073. Independent Bank Group, Inc. has a 1-year low of $36.47 and a 1-year high of $68.66. The business's 50 day moving average is $63.04 and its 200-day moving average is $56.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.50 billion, a P/E ratio of -5.76 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts forecast that Independent Bank Group, Inc. will post 2.7 earnings per share for the current year.

Independent Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group's dividend payout ratio is currently -14.53%.

About Independent Bank Group

(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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Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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