Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,617 shares of the bank’s stock after selling 389 shares during the period. Amalgamated Bank’s holdings in Independent Bank Group were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IBTX. Silver Lake Advisory LLC purchased a new position in Independent Bank Group during the 2nd quarter worth approximately $5,491,000. Edgestream Partners L.P. raised its position in Independent Bank Group by 72.0% during the first quarter. Edgestream Partners L.P. now owns 68,249 shares of the bank’s stock valued at $3,116,000 after buying an additional 28,579 shares during the period. Bessemer Group Inc. boosted its position in Independent Bank Group by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock worth $10,357,000 after acquiring an additional 14,534 shares during the period. Water Island Capital LLC purchased a new position in Independent Bank Group during the 2nd quarter valued at about $806,000. Finally, Magnetar Financial LLC purchased a new position in Independent Bank Group during the 2nd quarter valued at about $14,146,000. 77.90% of the stock is currently owned by institutional investors.

Independent Bank Group Stock Down 0.4 %

Shares of Independent Bank Group stock opened at $63.57 on Friday. The stock has a market cap of $2.63 billion, a PE ratio of -6.08 and a beta of 1.38. The business has a fifty day simple moving average of $59.05 and a 200 day simple moving average of $52.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group, Inc. has a 12 month low of $36.16 and a 12 month high of $67.92.

Independent Bank Group (NASDAQ:IBTX) last released its 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). 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 during the quarter, compared to the consensus estimate of $124.48 million. During the same quarter in the previous year, the firm posted $0.79 EPS. Research analysts predict that Independent Bank Group, Inc. will post 2.51 EPS for the current year.

Independent Bank Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.39%. Independent Bank Group’s payout ratio is -14.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com assumed coverage on Independent Bank Group in a research report on Thursday. They issued a “sell” rating on the stock. Finally, Truist Financial lowered their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Company 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.