Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by Atom Investors LP

Atom Investors LP decreased its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 69.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,424 shares of the bank’s stock after selling 99,673 shares during the quarter. Atom Investors LP owned approximately 0.11% of Independent Bank Group worth $2,561,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on IBTX. Truist Financial decreased their target price on shares of 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. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com started coverage on Independent Bank Group in a research note on Saturday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Trading Down 0.1 %

Shares of IBTX stock opened at $66.85 on Tuesday. The company has a 50-day moving average of $60.66 and a two-hundred day moving average of $54.31. The firm has a market cap of $2.77 billion, a PE ratio of -6.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Independent Bank Group, Inc. has a 1-year low of $36.47 and a 1-year 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 company 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 period in the prior year, the firm posted $0.79 earnings per share. On average, analysts predict that Independent Bank Group, Inc. will post 2.7 EPS for the current year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s dividend payout ratio is presently -14.53%.

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.