Barclays PLC Boosts Stock Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Barclays PLC increased its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 71.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,414 shares of the bank’s stock after buying an additional 33,213 shares during the quarter. Barclays PLC owned about 0.19% of Independent Bank Group worth $4,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBTX. Blue Trust Inc. raised its holdings in shares of 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 purchased a new position in Independent Bank Group during the third quarter worth about $204,000. AQR Capital Management LLC acquired a new position in Independent Bank Group in the 2nd quarter valued at about $212,000. Hancock Whitney Corp purchased a new stake in shares of Independent Bank Group in the 3rd quarter valued at approximately $222,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Independent Bank Group during the 3rd quarter worth approximately $273,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

NASDAQ IBTX opened at $60.28 on Friday. The company has a market cap of $2.50 billion, a P/E ratio of -5.76 and a beta of 1.39. Independent Bank Group, Inc. has a 1-year low of $36.47 and a 1-year high of $68.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50-day moving average of $63.06 and a two-hundred day moving average of $56.21.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million for the quarter, compared to analysts’ expectations of $124.48 million. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, analysts anticipate that Independent Bank Group, Inc. will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.52%. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Analysts Set New Price Targets

A number of research analysts recently commented on IBTX shares. Truist Financial decreased their price objective on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com began coverage on shares of Independent Bank Group in a report on Monday, December 16th. They issued a “sell” rating on the stock. One investment 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.33.

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.