Versor Investments LP Buys New Shares in Independent Bank Group, Inc. (NASDAQ:IBTX)

Versor Investments LP acquired a new position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,472 shares of the bank's stock, valued at approximately $1,296,000. Versor Investments LP owned 0.07% of Independent Bank Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IBTX. Headlands Technologies LLC acquired a new stake in shares of Independent Bank Group in the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new position in shares of Independent Bank Group in the 1st quarter worth $33,000. NBC Securities Inc. lifted its holdings in shares of Independent Bank Group by 19.7% in the 1st quarter. NBC Securities Inc. now owns 1,674 shares of the bank's stock worth $76,000 after purchasing an additional 275 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Independent Bank Group in the 1st quarter valued at $203,000. Finally, Relative Value Partners Group LLC bought a new stake in Independent Bank Group during the 4th quarter valued at $217,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Independent Bank Group Stock Performance

IBTX traded down $0.03 during trading on Monday, hitting $58.22. 151,600 shares of the company traded hands, compared to its average volume of 254,380. The firm has a market cap of $2.41 billion, a P/E ratio of 23.01 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Independent Bank Group, Inc. has a one year low of $34.50 and a one year high of $60.53. The stock's fifty day moving average is $52.61 and its 200 day moving average is $46.49.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released its earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. The business had revenue of $252.52 million during the quarter, compared to the consensus estimate of $120.25 million. During the same period last year, the business posted $0.82 earnings per share. As a group, equities analysts predict that Independent Bank Group, Inc. will post 2.86 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Monday, August 5th. Independent Bank Group's dividend payout ratio (DPR) is currently 60.08%.

Analyst Ratings Changes

Several equities research analysts have recently commented on IBTX shares. Piper Sandler raised shares of Independent Bank Group from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $38.00 to $58.00 in a research report on Friday, May 31st. Keefe, Bruyette & Woods increased their price target on Independent Bank Group from $57.00 to $66.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. StockNews.com began coverage on shares of Independent Bank Group in a report on Monday, August 26th. They set a "sell" rating on the stock. Finally, Truist Financial increased their target price on shares of Independent Bank Group from $48.00 to $65.00 and gave the company a "hold" rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $58.17.

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.