UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Independent Bank Group, Inc. (NASDAQ:IBTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,110 shares of the bank's stock after selling 12,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Independent Bank Group worth $5,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Independent Bank Group by 1,576.9% during the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank's stock worth $50,000 after acquiring an additional 820 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Independent Bank Group during the 3rd quarter valued at about $204,000. Hancock Whitney Corp acquired a new stake in Independent Bank Group during the third quarter worth approximately $222,000. AQR Capital Management LLC bought a new stake in Independent Bank Group in the second quarter worth approximately $212,000. Finally, Everence Capital Management Inc. acquired a new position in Independent Bank Group in the third quarter valued at approximately $273,000. Institutional investors and hedge funds own 77.90% of the company's stock.

Independent Bank Group Stock Down 2.0 %

IBTX stock traded down $1.37 during mid-day trading on Thursday, reaching $66.37. 380,939 shares of the company traded hands, compared to its average volume of 237,848. Independent Bank Group, Inc. has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. 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 firm's 50 day moving average price is $62.24 and its 200 day moving average price is $55.44. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -6.39 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released 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). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. During the same period in the previous year, the business earned $0.79 earnings per share. As a group, equities research analysts predict that Independent Bank Group, Inc. will post 2.7 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group's dividend payout ratio is presently -14.53%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial reduced their price objective 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. Keefe, Bruyette & Woods upped their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, StockNews.com began coverage on Independent Bank Group in a research report on Sunday. They issued a "sell" rating for the company. One research 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.33.

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.