Zurcher Kantonalbank Zurich Cantonalbank Buys 1,225 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 17.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,182 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Independent Bank Group were worth $416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of Independent Bank Group during the 3rd quarter valued at approximately $55,000. Signaturefd LLC boosted its position in shares of Independent Bank Group by 49.8% in the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after purchasing an additional 503 shares during the period. 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 worth $108,000 after purchasing an additional 925 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Independent Bank Group during the 3rd quarter valued at $204,000. Finally, Goodman Financial Corp purchased a new position in shares of Independent Bank Group during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Up 3.8 %

Shares of IBTX opened at $40.31 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97. 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 1 year low of $28.81 and a 1 year high of $53.25. The business’s 50 day simple moving average is $42.41 and its 200-day simple moving average is $43.59.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The company had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. Independent Bank Group’s quarterly revenue was down 15.3% on a year-over-year basis. As a group, equities analysts expect that Independent Bank Group, Inc. will post 2.63 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, May 1st. Independent Bank Group’s dividend payout ratio is 60.08%.

Analyst Ratings Changes

A number of brokerages have issued reports on IBTX. Keefe, Bruyette & Woods cut their price target 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. Raymond James boosted their price target on Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Truist Financial cut their price objective on shares of Independent Bank Group from $52.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Piper Sandler downgraded shares of Independent Bank Group from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $48.00 to $38.00 in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of 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 assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.33.

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.