LMR Partners LLP Invests $330,000 in Independent Bank Group, Inc. (NASDAQ:IBTX)

LMR Partners LLP acquired a new stake in Independent Bank Group, Inc. (NASDAQ:IBTX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,718 shares of the bank’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBTX. Blue Trust Inc. grew its position in 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 purchasing an additional 820 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Independent Bank Group during the third quarter valued at $204,000. SG Americas Securities LLC acquired a new position in shares of Independent Bank Group in the 1st quarter valued at $203,000. AQR Capital Management LLC purchased a new position in Independent Bank Group in the 2nd quarter worth $212,000. Finally, Everence Capital Management Inc. purchased a new position in Independent Bank Group in the 3rd quarter worth $273,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBTX has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Truist Financial cut their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com started coverage on shares of Independent Bank Group in a research note on Thursday, November 14th. They set a “sell” rating for the company. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Stock Down 0.4 %

Shares of IBTX opened at $63.06 on Thursday. The stock’s 50-day moving average price is $59.52 and its 200-day moving average price is $53.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -6.03 and a beta of 1.38. Independent Bank Group, Inc. has a 52 week low of $36.16 and a 52 week high of $67.92.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The firm had revenue of $255.18 million for the quarter, compared to analyst estimates 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 earned $0.79 EPS. On average, sell-side analysts predict that Independent Bank Group, Inc. will post 2.51 EPS for the current year.

Independent Bank Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. Independent Bank Group’s payout ratio is -14.53%.

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.