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

Royce & Associates LP lowered its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 33.8% in the third quarter, Holdings Channel.com reports. The fund owned 31,045 shares of the bank’s stock after selling 15,833 shares during the quarter. Royce & Associates LP’s holdings in Independent Bank Group were worth $1,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Independent Bank Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after purchasing an additional 39,091 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Independent Bank Group in the second quarter valued at about $14,146,000. Bessemer Group Inc. lifted its stake in shares of Independent Bank Group by 6.8% in the first quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock worth $10,357,000 after buying an additional 14,534 shares in the last quarter. Silver Lake Advisory LLC acquired a new position in Independent Bank Group during the second quarter worth about $5,491,000. Finally, Silvercrest Asset Management Group LLC grew its stake in Independent Bank Group by 28.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 81,115 shares of the bank’s stock valued at $3,703,000 after acquiring an additional 17,875 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

Shares of Independent Bank Group stock opened at $63.29 on Wednesday. The firm has a market cap of $2.62 billion, a PE ratio of -6.05 and a beta of 1.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group, Inc. has a 52 week low of $36.16 and a 52 week high of $67.92. The business’s fifty day simple moving average is $59.35 and its 200-day simple moving average is $52.95.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The company had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. Equities analysts forecast that Independent Bank Group, Inc. will post 2.51 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 2.40%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is -14.53%.

Analyst Ratings Changes

IBTX has been the topic of a number of research reports. Truist Financial decreased their target price on shares of 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. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com began coverage on Independent Bank Group in a report on Thursday, November 14th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.