Mirae Asset Global Investments Co. Ltd. Acquires 747 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,531 shares of the bank’s stock after buying an additional 747 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Independent Bank Group were worth $841,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. bought a new position in shares of Independent Bank Group during the third quarter worth about $55,000. Signaturefd LLC grew its holdings 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Independent Bank Group by 51.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock worth $108,000 after buying an additional 925 shares in the last quarter. Callahan Advisors LLC bought a new position in shares of Independent Bank Group during the third quarter worth about $201,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Independent Bank Group during the third quarter worth about $204,000. 77.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBTX. Hovde Group decreased their price objective on Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday. Truist Financial decreased their price target on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Raymond James raised their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stephens restated an “overweight” rating and issued a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday. Finally, StockNews.com upgraded Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.83.

Independent Bank Group Stock Up 0.7 %

IBTX stock opened at $40.82 on Thursday. Independent Bank Group, Inc. has a twelve month low of $28.81 and a twelve month high of $53.25. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 39.25 and a beta of 1.33. The business has a 50 day moving average price of $43.41 and a two-hundred day moving average price of $43.64. 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 (NASDAQ:IBTX) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.99% and a net margin of 10.96%. The company had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $121.39 million. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue was down 15.3% on a year-over-year basis. Analysts anticipate that Independent Bank Group, Inc. will post 2.88 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.52 annualized dividend and a yield of 3.72%. Independent Bank Group’s payout ratio is currently 146.15%.

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.