Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 5.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,277 shares of the bank’s stock after selling 500 shares during the quarter. New York State Teachers Retirement System’s holdings in Independent Bank Group were worth $472,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Independent Bank Group by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,139,668 shares of the bank’s stock worth $294,579,000 after purchasing an additional 57,283 shares during the last quarter. FMR LLC boosted its stake in shares of Independent Bank Group by 12.6% during the 3rd quarter. FMR LLC now owns 3,711,543 shares of the bank’s stock worth $146,792,000 after purchasing an additional 414,666 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Independent Bank Group by 23.4% during the 1st 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 boosted its position in shares of Independent Bank Group by 18.5% in the second quarter. State Street Corp now owns 2,002,249 shares of the bank’s stock worth $69,138,000 after acquiring an additional 313,039 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Independent Bank Group by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,368,860 shares of the bank’s stock worth $82,242,000 after acquiring an additional 11,708 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IBTX shares. Truist Financial decreased their target price on shares of Independent Bank Group from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Stephens reissued an “overweight” rating and issued a $61.00 target price on shares of Independent Bank Group in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. StockNews.com raised shares of Independent Bank Group to a “sell” rating in a research report on Thursday, January 25th. Finally, Raymond James raised their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.20.

Independent Bank Group Trading Up 1.4 %

NASDAQ IBTX opened at $40.12 on Friday. Independent Bank Group, Inc. has a one year low of $28.81 and a one year high of $53.25. The company’s 50 day moving average price is $43.66 and its 200 day moving average price is $43.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 38.58 and a beta of 1.33.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The business had revenue of $116.92 million during the quarter, compared to analysts’ expectations of $123.83 million. During the same quarter in the previous year, the business posted $1.20 EPS. The company’s quarterly revenue was down 23.6% on a year-over-year basis. On average, sell-side analysts predict that Independent Bank Group, Inc. will post 2.88 EPS for the current year.

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.