Mutual of America Capital Management LLC Has $313,000 Holdings in Independent Bank Group, Inc. (NASDAQ:IBTX)

Mutual of America Capital Management LLC trimmed its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 8.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,423 shares of the bank’s stock after selling 495 shares during the period. Mutual of America Capital Management LLC’s holdings in Independent Bank Group were worth $313,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in IBTX. Dimensional Fund Advisors LP boosted its position in shares of Independent Bank Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after buying an additional 39,091 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Independent Bank Group during the 2nd quarter worth about $14,146,000. Silver Lake Advisory LLC purchased a new position in Independent Bank Group during the second quarter valued at approximately $5,491,000. Empowered Funds LLC boosted its position in shares of Independent Bank Group by 6.3% during the 3rd quarter. Empowered Funds LLC now owns 107,275 shares of the bank’s stock valued at $6,185,000 after acquiring an additional 6,363 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Independent Bank Group by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 79,245 shares of the bank’s stock valued at $3,607,000 after acquiring an additional 5,623 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Stock Up 0.1 %

IBTX stock opened at $67.26 on Friday. The business’s 50-day moving average is $60.37 and its two-hundred day moving average is $53.88. Independent Bank Group, Inc. has a fifty-two week low of $36.16 and a fifty-two 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 company has a market cap of $2.79 billion, a price-to-earnings ratio of -6.43 and a beta of 1.38.

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 firm had revenue of $255.18 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.79 earnings per share. As a group, analysts forecast that Independent Bank Group, Inc. will post 2.7 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.26%. Independent Bank Group’s dividend payout ratio is currently -14.53%.

Wall Street Analyst Weigh In

IBTX has been the subject of several recent research reports. StockNews.com started coverage on shares of Independent Bank Group in a research note on Friday, November 22nd. They issued a “sell” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Truist Financial dropped their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.