XTX Topco Ltd Invests $314,000 in Independent Bank Group, Inc. (NASDAQ:IBTX)

XTX Topco Ltd acquired a new position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,449 shares of the bank’s stock, valued at approximately $314,000.

Other large investors also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in Independent Bank Group during the second quarter worth $228,000. Louisiana State Employees Retirement System boosted its holdings in Independent Bank Group by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after purchasing an additional 300 shares during the last quarter. Townsend Asset Management Corp NC ADV acquired a new position in Independent Bank Group during the second quarter worth $230,000. Versor Investments LP acquired a new position in Independent Bank Group during the second quarter worth $1,296,000. Finally, Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 810 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

Shares of IBTX stock opened at $64.05 on Wednesday. The stock has a market cap of $2.65 billion, a P/E ratio of -6.12 and a beta of 1.39. 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 company has a fifty day moving average price of $62.79 and a two-hundred day moving average price of $55.92. Independent Bank Group, Inc. has a one year low of $36.47 and a one year high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last posted its 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 company 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 quarter in the prior year, the business posted $0.79 EPS. As a group, equities analysts predict 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. Stockholders of record on Thursday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Wall Street Analysts Forecast Growth

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

About Independent Bank Group

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.