UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.14 Million Stock Holdings in Independent Bank Group, Inc. (NASDAQ:IBTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 89,110 shares of the bank’s stock after selling 12,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Independent Bank Group worth $5,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Magnetar Financial LLC bought a new stake in shares of Independent Bank Group in the 2nd quarter valued at about $14,146,000. FMR LLC increased its holdings in shares of Independent Bank Group by 8.1% in the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after acquiring an additional 279,112 shares in the last quarter. Silver Lake Advisory LLC acquired a new stake in shares of Independent Bank Group during the second quarter worth about $5,491,000. Dimensional Fund Advisors LP lifted its holdings in shares of Independent Bank Group by 1.7% during 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 in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Independent Bank Group in the 2nd quarter valued at approximately $1,296,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBTX has been the topic of several research reports. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Sunday. They issued a “sell” rating on the stock. Truist Financial cut their price target on 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, Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment 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.com, the company has a consensus rating of “Hold” and an average price target of $60.33.

Independent Bank Group Stock Performance

IBTX opened at $67.74 on Thursday. The business’s 50-day simple moving average is $62.24 and its 200 day simple moving average is $55.44. Independent Bank Group, Inc. has a 52-week low of $36.47 and a 52-week high of $68.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $2.81 billion, a PE ratio of -6.48 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data 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 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 quarter in the prior year, the company earned $0.79 EPS. As a group, sell-side 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 company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.24%. Independent Bank Group’s dividend payout ratio (DPR) is currently -14.53%.

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.