Signaturefd LLC Has $36,000 Holdings in Independent Bank Group, Inc. (NASDAQ:IBTX)

Signaturefd LLC lessened its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 53.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 711 shares of the bank’s stock after selling 802 shares during the quarter. Signaturefd LLC’s holdings in Independent Bank Group were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. acquired a new position in Independent Bank Group during the third quarter worth about $55,000. PNC Financial Services Group Inc. increased its stake in shares of Independent Bank Group by 51.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after buying an additional 925 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Independent Bank Group in the third quarter valued at approximately $204,000. Goodman Financial Corp acquired a new position in shares of Independent Bank Group in the third quarter valued at approximately $214,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $241,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Hovde Group lowered their price objective on Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Truist Financial reduced their target price on Independent Bank Group from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James upped their target price on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Independent Bank Group to a “sell” rating in a report on Thursday, January 25th. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.33.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $40.31 on Friday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 15.93 and a beta of 1.36. Independent Bank Group, Inc. has a 52-week low of $28.81 and a 52-week high of $53.25. The stock’s 50 day moving average price is $42.41 and its two-hundred day moving average price is $43.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.97 and a current ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping 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 return on equity of 4.97% and a net margin of 10.96%. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. On average, equities analysts predict that Independent Bank Group, Inc. will post 2.63 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, May 1st. 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.