Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 82.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,567 shares of the bank’s stock after purchasing an additional 6,116 shares during the quarter. BNP Paribas Financial Markets’ holdings in Independent Bank Group were worth $782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after buying an additional 820 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Independent Bank Group in the third quarter valued at approximately $204,000. Hancock Whitney Corp purchased a new position in shares of Independent Bank Group in the third quarter valued at approximately $222,000. AQR Capital Management LLC acquired a new stake in shares of Independent Bank Group in the second quarter worth approximately $212,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Independent Bank Group during the third quarter worth approximately $273,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $67.74 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $62.24 and a 200 day moving average price of $55.44. Independent Bank Group, Inc. has a 12-month low of $36.47 and a 12-month high of $68.66. The stock has a market cap of $2.81 billion, a P/E ratio of -6.48 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The firm had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. During the same quarter in the prior year, the business earned $0.79 EPS. Sell-side analysts anticipate that Independent Bank Group, Inc. will post 2.7 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IBTX shares. Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial lowered their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. Finally, StockNews.com assumed coverage on shares of Independent Bank Group in a research note on Sunday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.33.

Independent Bank Group Company 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.