Pathstone Holdings LLC Has $1.56 Million Stock Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Pathstone Holdings LLC lifted its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,102 shares of the bank’s stock after buying an additional 1,688 shares during the period. Pathstone Holdings LLC’s holdings in Independent Bank Group were worth $1,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Versor Investments LP grew its holdings in shares of Independent Bank Group by 0.7% in the 3rd quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock worth $1,652,000 after purchasing an additional 186 shares during the last quarter. Howard Financial Services LTD. boosted its position in Independent Bank Group by 0.8% in the second quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank’s stock valued at $1,271,000 after buying an additional 234 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Independent Bank Group by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $824,000 after buying an additional 300 shares in the last quarter. Sei Investments Co. grew its stake in Independent Bank Group by 0.8% during the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock worth $2,894,000 after buying an additional 531 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Independent Bank Group by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock worth $713,000 after buying an additional 810 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on IBTX shares. StockNews.com started coverage on Independent Bank Group in a research note on Friday, November 22nd. They issued a “sell” rating on the stock. 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 report on Thursday, November 7th. Finally, Truist Financial dropped their target price on shares of 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 analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.83.

Independent Bank Group Trading Up 0.1 %

Independent Bank Group stock opened at $67.26 on Friday. 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 firm has a 50-day moving average of $60.37 and a 200-day moving average of $53.88. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -6.43 and a beta of 1.38. Independent Bank Group, Inc. has a one year low of $36.16 and a one year high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm 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 last year, the company posted $0.79 earnings per share. On average, equities analysts expect that Independent Bank Group, Inc. will post 2.7 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s payout ratio is presently -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.