Everence Capital Management Inc. Purchases Shares of 4,740 Independent Bank Group, Inc. (NASDAQ:IBTX)

Everence Capital Management Inc. purchased a new stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,740 shares of the bank’s stock, valued at approximately $241,000.

A number of other large investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of Independent Bank Group by 8.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,990 shares of the bank’s stock valued at $103,000 after purchasing an additional 233 shares during the period. Point72 Hong Kong Ltd grew its stake in shares of Independent Bank Group by 17.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,876 shares of the bank’s stock valued at $133,000 after purchasing an additional 283 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Independent Bank Group by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,459 shares of the bank’s stock valued at $809,000 after purchasing an additional 295 shares during the period. Captrust Financial Advisors grew its stake in shares of Independent Bank Group by 2.1% during the 4th quarter. Captrust Financial Advisors now owns 15,819 shares of the bank’s stock valued at $950,000 after purchasing an additional 322 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of Independent Bank Group by 10.8% during the 1st quarter. Evergreen Capital Management LLC now owns 4,533 shares of the bank’s stock valued at $323,000 after buying an additional 443 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Independent Bank Group Stock Up 1.4 %

NASDAQ IBTX opened at $40.12 on Friday. The stock’s 50 day moving average is $43.66 and its 200 day moving average is $43.51. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28. Independent Bank Group, Inc. has a 12 month low of $28.81 and a 12 month high of $53.25. The stock has a market cap of $1.66 billion, a PE ratio of 38.58 and a beta of 1.33.

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

Wall Street Analyst Weigh In

IBTX has been the topic of a number of analyst reports. Stephens reaffirmed an “overweight” rating and set a $61.00 price objective on shares of Independent Bank Group in a research report on Tuesday, January 23rd. Truist Financial lowered their price objective on 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. 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 report 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 report on Wednesday, January 24th. Finally, StockNews.com raised Independent Bank Group to a “sell” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.20.

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.