Independent Bank Group, Inc. (NASDAQ:IBTX) Position Cut by Stifel Financial Corp

Stifel Financial Corp lowered its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,435 shares of the bank’s stock after selling 295 shares during the quarter. Stifel Financial Corp’s holdings in Independent Bank Group were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Silver Lake Advisory LLC bought a new stake in Independent Bank Group during the 2nd quarter valued at $5,491,000. Water Island Capital LLC acquired a new position in shares of Independent Bank Group during the second quarter valued at approximately $806,000. Magnetar Financial LLC acquired a new stake in Independent Bank Group in the second quarter worth approximately $14,146,000. Renaissance Technologies LLC increased its position in shares of Independent Bank Group by 45.3% during the 2nd quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock valued at $2,378,000 after purchasing an additional 16,300 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Independent Bank Group in the second quarter valued at $1,296,000. Institutional investors own 77.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com initiated coverage on shares of Independent Bank Group in a report on Tuesday, December 24th. They issued a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.33.

Independent Bank Group Price Performance

IBTX opened at $60.55 on Monday. The firm has a market capitalization of $2.51 billion, a P/E ratio of -5.79 and a beta of 1.39. The stock has a fifty day moving average of $63.08 and a 200-day moving average of $56.89. 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 12-month low of $36.47 and a 12-month high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last announced 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). The business had revenue of $255.18 million for the quarter, compared to analyst estimates 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 previous year, the business posted $0.79 earnings per share. Equities analysts forecast that Independent Bank Group, Inc. will post 2.7 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.51%. Independent Bank Group’s dividend payout ratio is -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.