Renaissance Technologies LLC Purchases 16,300 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Renaissance Technologies LLC increased its holdings in Independent Bank Group, Inc. (NASDAQ:IBTX) by 45.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,243 shares of the bank’s stock after acquiring an additional 16,300 shares during the period. Renaissance Technologies LLC owned about 0.13% of Independent Bank Group worth $2,378,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IBTX. Headlands Technologies LLC purchased a new position in Independent Bank Group in the first quarter worth $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Independent Bank Group during the 1st quarter worth $33,000. NBC Securities Inc. boosted 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 buying an additional 275 shares during the last quarter. SG Americas Securities LLC bought a new position in Independent Bank Group during the first quarter valued at about $203,000. Finally, Hennessy Advisors Inc. purchased a new stake in Independent Bank Group during the second quarter worth about $228,000. 77.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IBTX. StockNews.com assumed coverage on shares of Independent Bank Group in a research report on Friday, September 27th. They set a “sell” rating for the company. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Truist Financial raised their target price on Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.33.

Independent Bank Group Stock Down 3.1 %

IBTX opened at $55.90 on Wednesday. Independent Bank Group, Inc. has a 12 month low of $34.50 and a 12 month high of $61.76. The company has a market cap of $2.31 billion, a PE ratio of 22.09 and a beta of 1.38. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $56.25 and a 200 day moving average of $48.32.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 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 firm had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. During the same period last year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that Independent Bank Group, Inc. will post 2.86 EPS for the current year.

Independent Bank Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, August 5th. Independent Bank Group’s payout ratio is presently 60.08%.

Independent Bank Group Profile

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.