Louisiana State Employees Retirement System Invests $916,000 in Independent Bank Group, Inc. (NASDAQ:IBTX)

Louisiana State Employees Retirement System acquired a new position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) in the 4th quarter, Holdings Channel reports. The fund acquired 18,000 shares of the bank’s stock, valued at approximately $916,000.

Several other institutional investors have also modified their holdings of IBTX. NBC Securities Inc. purchased a new stake in Independent Bank Group in the 3rd quarter valued at $55,000. Signaturefd LLC raised its position in Independent Bank Group by 49.8% in the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock valued at $60,000 after purchasing an additional 503 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Independent Bank Group by 51.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after purchasing an additional 925 shares during the last quarter. Callahan Advisors LLC purchased a new stake in Independent Bank Group in the 3rd quarter valued at $201,000. Finally, Segment Wealth Management LLC purchased a new stake in Independent Bank Group in the 4th quarter valued at $259,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IBTX shares. Keefe, Bruyette & Woods upped their price target on shares of Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Raymond James boosted their price objective on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Hovde Group dropped their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of Independent Bank Group from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Independent Bank Group currently has a consensus rating of “Hold” and an average target price of $49.83.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX opened at $39.26 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 15.52 and a beta of 1.33. Independent Bank Group, Inc. has a 52 week low of $28.81 and a 52 week high of $53.25. The company’s 50-day moving average price is $43.32 and its 200 day moving average price is $43.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.23.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The firm’s revenue was down 15.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. As a group, research analysts forecast that Independent Bank Group, Inc. will post 2.88 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a $0.38 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.87%. Independent Bank Group’s payout ratio is 60.08%.

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.