Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in Independent Bank Group, Inc. (NASDAQ:IBTX) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,575 shares of the bank’s stock after selling 562 shares during the period. State of Alaska Department of Revenue’s holdings in Independent Bank Group were worth $1,186,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Independent Bank Group in the 1st quarter valued at $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Independent Bank Group in the first quarter worth about $33,000. Blue Trust Inc. grew its stake in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after buying an additional 820 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group during the 1st quarter valued at about $203,000. Finally, AQR Capital Management LLC acquired a new position in Independent Bank Group during the 2nd quarter worth approximately $212,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on IBTX shares. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Tuesday, October 29th. They issued a “sell” rating for the company. Truist Financial lowered their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Independent Bank Group has a consensus rating of “Hold” and an average price target of $57.83.

Independent Bank Group Trading Down 0.8 %

NASDAQ IBTX opened at $57.88 on Monday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -5.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Independent Bank Group, Inc. has a 12 month low of $34.54 and a 12 month high of $62.25. The company’s fifty day moving average price is $57.87 and its two-hundred day moving average price is $50.87.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.21). The company had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same period in the previous year, the business posted $0.79 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. Independent Bank Group’s payout ratio is -14.53%.

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.