Swiss National Bank Buys 4,400 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Swiss National Bank grew its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTXGet Rating) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,622 shares of the bank’s stock after buying an additional 4,400 shares during the quarter. Swiss National Bank owned 0.22% of Independent Bank Group worth $6,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors grew its stake in shares of Independent Bank Group by 23.4% in the first quarter. Capital Research Global Investors now owns 3,042,982 shares of the bank’s stock worth $216,539,000 after purchasing an additional 576,836 shares during the last quarter. State Street Corp lifted its holdings in Independent Bank Group by 17.9% in the first quarter. State Street Corp now owns 1,987,217 shares of the bank’s stock worth $141,410,000 after buying an additional 302,174 shares during the period. Vanguard Group Inc. lifted its holdings in Independent Bank Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,139,668 shares of the bank’s stock worth $294,579,000 after buying an additional 57,283 shares during the period. Invesco Ltd. lifted its holdings in Independent Bank Group by 22.2% in the first quarter. Invesco Ltd. now owns 156,691 shares of the bank’s stock worth $11,150,000 after buying an additional 28,481 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG purchased a new stake in Independent Bank Group in the first quarter worth about $2,006,000. 76.27% of the stock is owned by institutional investors.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX opened at $65.41 on Thursday. Independent Bank Group, Inc. has a twelve month low of $60.17 and a twelve month high of $79.66. The firm has a market cap of $2.69 billion, a P/E ratio of 13.19 and a beta of 1.42. The company has a 50 day moving average of $64.86 and a 200 day moving average of $67.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Independent Bank Group (NASDAQ:IBTXGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The bank reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). Independent Bank Group had a return on equity of 8.77% and a net margin of 31.47%. During the same quarter in the previous year, the business earned $1.22 earnings per share. As a group, research analysts expect that Independent Bank Group, Inc. will post 5.11 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Wednesday, November 2nd. Independent Bank Group’s dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

Several analysts have commented on IBTX shares. Stephens raised their price objective on shares of Independent Bank Group to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Hovde Group lowered shares of Independent Bank Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $82.50 to $70.00 in a report on Wednesday, October 26th. Truist Financial lowered their price objective on shares of Independent Bank Group from $80.00 to $74.00 in a report on Wednesday, October 26th. Piper Sandler lowered their target price on shares of Independent Bank Group from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, September 16th. Finally, StockNews.com initiated coverage on shares of Independent Bank Group in a report on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Independent Bank Group Profile

(Get Rating)

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that 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.

Further Reading

Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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