Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,180,301 shares of the bank’s stock after purchasing an additional 22,245 shares during the period. Vanguard Group Inc. owned 10.13% of Independent Bank Group worth $212,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBTX. GAMMA Investing LLC bought a new stake in shares of Independent Bank Group during the 4th quarter valued at about $47,000. PNC Financial Services Group Inc. boosted its stake in Independent Bank Group by 51.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after acquiring an additional 925 shares during the period. Evergreen Capital Management LLC bought a new position in shares of Independent Bank Group during the third quarter valued at approximately $204,000. Relative Value Partners Group LLC acquired a new stake in shares of Independent Bank Group during the 4th quarter worth approximately $217,000. Finally, Trail Ridge Investment Advisors LLC bought a new stake in shares of Independent Bank Group in the 4th quarter worth approximately $234,000. 77.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IBTX shares. Keefe, Bruyette & Woods dropped their target price on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Piper Sandler upgraded shares of Independent Bank Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $58.00 in a research report on Friday, May 31st. StockNews.com started coverage on shares of Independent Bank Group in a research report on Monday. They issued a “sell” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $50.00 price target (up previously from $46.00) on shares of Independent Bank Group in a report on Wednesday, May 29th. Finally, Hovde Group decreased their price objective on Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.33.

Independent Bank Group Price Performance

NASDAQ IBTX opened at $46.04 on Wednesday. Independent Bank Group, Inc. has a 12 month low of $34.30 and a 12 month high of $53.25. The firm has a market capitalization of $1.91 billion, a PE ratio of 18.20 and a beta of 1.41. The company’s 50 day simple moving average is $43.23 and its 200 day simple moving average is $45.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. As a group, equities research analysts forecast that Independent Bank Group, Inc. will post 2.56 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Wednesday, May 1st. Independent Bank Group’s payout ratio is 60.08%.

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.