Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 33.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,045 shares of the bank’s stock after selling 15,833 shares during the period. Royce & Associates LP owned approximately 0.07% of Independent Bank Group worth $1,790,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in Independent Bank Group by 1,576.9% in 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of Independent Bank Group during the first quarter worth about $203,000. CIBC Asset Management Inc acquired a new position in Independent Bank Group in the 3rd quarter worth approximately $204,000. AQR Capital Management LLC purchased a new position in Independent Bank Group during the 2nd quarter worth approximately $212,000. Finally, Hennessy Advisors Inc. acquired a new stake in Independent Bank Group during the 2nd quarter valued at approximately $228,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Independent Bank Group Trading Up 0.1 %

Shares of Independent Bank Group stock opened at $63.29 on Wednesday. Independent Bank Group, Inc. has a fifty-two week low of $36.16 and a fifty-two week high of $67.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $2.62 billion, a P/E ratio of -6.05 and a beta of 1.38. The firm has a 50-day simple moving average of $59.35 and a two-hundred day simple moving average of $52.95.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The business had revenue of $255.18 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.79 EPS. As a group, equities 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 business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s payout ratio is presently -14.53%.

Analyst Ratings Changes

IBTX has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com began coverage on Independent Bank Group in a research report on Thursday, November 14th. They set a “sell” rating on the stock. Finally, Truist Financial lowered their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. One 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. According to data from MarketBeat.com, Independent Bank Group currently has a consensus rating of “Hold” and an average price target 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.