Strs Ohio Sells 2,700 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Strs Ohio reduced its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,600 shares of the bank’s stock after selling 2,700 shares during the period. Strs Ohio’s holdings in Independent Bank Group were worth $691,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBTX. FMR LLC boosted its holdings in shares of Independent Bank Group by 12.6% in the third quarter. FMR LLC now owns 3,711,543 shares of the bank’s stock worth $146,792,000 after acquiring an additional 414,666 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Independent Bank Group in the third quarter worth $6,326,000. First Dallas Securities Inc. bought a new stake in Independent Bank Group during the third quarter valued at $3,996,000. Charles Schwab Investment Management Inc. boosted its stake in Independent Bank Group by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,398 shares of the bank’s stock valued at $15,836,000 after buying an additional 33,952 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Independent Bank Group by 249.3% during the third quarter. GSA Capital Partners LLP now owns 37,428 shares of the bank’s stock valued at $1,480,000 after buying an additional 26,714 shares during the period. 77.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBTX has been the subject of several research analyst reports. Truist Financial dropped their price objective on Independent Bank Group from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Raymond James lifted their price objective 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. Piper Sandler lowered Independent Bank Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $48.00 to $38.00 in a research note on Wednesday. Finally, StockNews.com raised Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.83.

Independent Bank Group Trading Down 3.8 %

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

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The business had revenue of $119.10 million for the quarter, compared to the consensus estimate of $121.39 million. During the same quarter last year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was down 15.3% on a year-over-year basis. Research analysts forecast 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. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.38 per share. 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.