Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC cut its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 36.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,487 shares of the bank’s stock after selling 2,043 shares during the period. Icon Wealth Advisors LLC’s holdings in Independent Bank Group were worth $201,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after acquiring an additional 820 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Independent Bank Group in the third quarter worth approximately $204,000. AQR Capital Management LLC acquired a new stake in shares of Independent Bank Group in the second quarter worth approximately $212,000. Hennessy Advisors Inc. acquired a new stake in shares of Independent Bank Group in the second quarter worth approximately $228,000. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of Independent Bank Group in the second quarter worth approximately $230,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IBTX shares. Truist Financial lowered their price objective on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com started coverage on Independent Bank Group in a research note on Friday. They set a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Price Performance

IBTX stock opened at $65.49 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.71 billion, a PE ratio of -6.26 and a beta of 1.38. Independent Bank Group, Inc. has a 12-month low of $36.16 and a 12-month high of $67.92. The business’s fifty day moving average price is $59.88 and its 200 day moving average price is $53.44.

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

Independent Bank Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 2.32%. Independent Bank Group’s dividend payout ratio (DPR) is -14.53%.

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.