IndexIQ Advisors LLC Acquires New Shares in Independent Bank Group, Inc. (NASDAQ: IBTX)


IndexIQ Advisors LLC has acquired a new stake in the shares of Independent Bank Group, Inc. (NASDAQ:IBTXGet a rating) in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund acquired 5,429 shares of the bank, valued at around $386,000.

Other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Zurcher Kantonalbank Zurcher Kantonalbank increased its position in Independent Bank Group by 21.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,477 shares of the bank worth $323,000 after acquiring an additional 796 shares during the period. Barclays PLC increased its position in Independent Bank Group by 25.2% during the fourth quarter. Barclays PLC now owns 73,645 shares in the bank worth $5,313,000 after acquiring an additional 14,825 shares during the period. Prudent Man Advisors LLC acquired a new position in Independent Bank Group during Q4 worth $217,000. Trail Ridge Investment Advisors LLC acquired a new position in Independent Bank Group during Q4 worth $332,000. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Independent Bank Group by 27.7% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 219,056 shares of the bank worth $15,805,000 after acquiring an additional 47,470 shares during the period. Institutional investors and hedge funds hold 73.93% of the company’s shares.

Analyst upgrades and downgrades

A number of brokerages have published reports on IBTX. Stephens raised his price target on Independent Bank Group to $80.00 and gave the stock an “outperform” rating in a Wednesday, July 27 research report. Piper Sandler lowered her price target on Independent Bank Group to $76.00 in a Monday July 4 research note. Finally, Truist Financial raised its price target on Independent Bank Group to $80.00 and gave the stock an “outperform” rating in a Wednesday, July 27 research note.

Independent Bank Group shares up 1.2%

IBTX opened at $72.64 on Thursday. Independent Bank Group, Inc. has a one-year low of $62.82 and a one-year high of $79.66. The company has a debt ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s fifty-day moving average is $69.27 and its 200-day moving average is $71.93. The company has a market capitalization of $2.99 ​​billion, a PE ratio of 14.82 and a beta of 1.51.

Independent banking group (NASDAQ:IBTXGet a rating) last released its quarterly earnings data on Monday, July 25. The bank reported EPS of $1.27 for the quarter, beating analysts’ consensus estimate of $1.23 by $0.04. The company posted revenue of $151.88 million for the quarter, versus a consensus estimate of $151.05 million. Independent Bank Group achieved a return on equity of 8.49% and a net margin of 32.74%. In the same quarter of the previous year, the company achieved EPS of $1.35. On average, stock analysts predict that Independent Bank Group, Inc. will post an EPS of 5.3 for the current fiscal year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 18. Shareholders of record on Thursday, August 4 will receive a dividend of $0.38 per share. This represents a dividend of $1.52 on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, August 3. The Independent Bank Group’s dividend payout ratio (DPR) is currently 31.02%.

Insider Trading at Independent Bank Group

Separately, Executive Vice President James C. White sold 876 shares of the company in a trade on Friday, June 3. The stock was sold at an average price of $72.71, for a total transaction of $63,693.96. Following the sale, the executive vice president now directly owns 7,355 shares of the company, valued at $534,782.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. 3.30% of the shares are held by insiders.

Independent Banking Group Company Profile

(Get a rating)

Independent Bank Group, Inc operates as a bank holding company for Independent Bank which 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.

See also

Want to see which other hedge funds hold IBTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Independent Bank Group, Inc. (NASDAQ:IBTXGet a rating).

Institutional ownership by quarter for Independent Bank Group (NASDAQ:IBTX)



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