Raymond James & Associates Acquires 1,548 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Raymond James & Associates grew its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,830 shares of the bank’s stock after acquiring an additional 1,548 shares during the period. Raymond James & Associates’ holdings in Independent Bank Group were worth $907,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Independent Bank Group by 137.5% during the third quarter. SG Americas Securities LLC now owns 23,217 shares of the bank’s stock worth $918,000 after buying an additional 13,443 shares during the period. Callahan Advisors LLC acquired a new stake in shares of Independent Bank Group during the third quarter worth $201,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Independent Bank Group by 1.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,459 shares of the bank’s stock worth $809,000 after buying an additional 295 shares during the period. Tectonic Advisors LLC increased its position in shares of Independent Bank Group by 96.9% during the third quarter. Tectonic Advisors LLC now owns 16,596 shares of the bank’s stock worth $656,000 after buying an additional 8,168 shares during the period. Finally, Signaturefd LLC increased its position in shares of Independent Bank Group by 49.8% during the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after buying an additional 503 shares during the period. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Trading Up 0.6 %

NASDAQ:IBTX opened at $41.87 on Tuesday. The company has a fifty day moving average of $43.49 and a 200 day moving average of $43.63. The firm has a market capitalization of $1.73 billion, a P/E ratio of 40.26 and a beta of 1.33. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28. Independent Bank Group, Inc. has a 52 week low of $28.81 and a 52 week high of $53.25.

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

Analyst Ratings Changes

IBTX has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and set a $61.00 price objective on shares of Independent Bank Group in a research report on Tuesday, January 23rd. StockNews.com raised shares of Independent Bank Group to a “sell” rating in a research report on Thursday, January 25th. Raymond James raised their price target on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Truist Financial lowered their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Independent Bank Group currently has a consensus rating of “Moderate Buy” and an average target price of $54.20.

About Independent Bank Group

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.