JPMorgan Chase & Co. Has $3.85 Million Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

JPMorgan Chase & Co. lifted its holdings in Independent Bank Group, Inc. (NASDAQ:IBTX) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,746 shares of the bank’s stock after buying an additional 10,307 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Independent Bank Group worth $3,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Independent Bank Group by 1,576.9% during the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after acquiring an additional 820 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Independent Bank Group in the third quarter valued at about $204,000. AQR Capital Management LLC acquired a new position in Independent Bank Group in the 2nd quarter worth about $212,000. Hancock Whitney Corp purchased a new stake in shares of Independent Bank Group during the 3rd quarter worth about $222,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Independent Bank Group in the 3rd quarter valued at approximately $273,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

NASDAQ:IBTX opened at $60.67 on Friday. The firm has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group, Inc. has a 1 year low of $36.47 and a 1 year high of $68.66. The firm’s fifty day simple moving average is $63.39 and its 200 day simple moving average is $58.66.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts anticipate that Independent Bank Group, Inc. will post 2.7 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on IBTX. StockNews.com assumed coverage on shares of Independent Bank Group in a research report on Friday. They set a “sell” rating on the stock. Keefe, Bruyette & Woods raised their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Truist Financial decreased their price objective 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. One 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 company’s stock. Based on data from MarketBeat, Independent Bank Group currently has a consensus rating of “Hold” and an average target price of $60.33.

Independent Bank Group 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.