Edgestream Partners L.P. Purchases Shares of 61,064 Independent Bank Group, Inc. (NASDAQ:IBTX)

Edgestream Partners L.P. bought a new position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 61,064 shares of the bank’s stock, valued at approximately $3,521,000. Edgestream Partners L.P. owned about 0.15% of Independent Bank Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of IBTX. Westchester Capital Management LLC increased its holdings in Independent Bank Group by 15.5% in the 3rd quarter. Westchester Capital Management LLC now owns 304,444 shares of the bank’s stock valued at $17,554,000 after buying an additional 40,944 shares during the period. BNP Paribas Financial Markets grew its holdings in Independent Bank Group by 82.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,567 shares of the bank’s stock worth $782,000 after acquiring an additional 6,116 shares during the last quarter. FMR LLC grew its holdings in Independent Bank Group by 8.1% during the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after acquiring an additional 279,112 shares during the last quarter. Hancock Whitney Corp bought a new stake in Independent Bank Group during the 3rd quarter worth approximately $222,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Independent Bank Group by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock worth $27,981,000 after acquiring an additional 7,287 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Trading Down 0.5 %

Shares of NASDAQ:IBTX opened at $66.92 on Monday. The stock has a 50 day moving average of $60.66 and a 200 day moving average of $54.23. The company has a market cap of $2.77 billion, a PE ratio of -6.40 and a beta of 1.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group, Inc. has a 12-month low of $36.47 and a 12-month high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). The business had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same quarter in the previous year, the company earned $0.79 earnings per share. As a group, equities research analysts expect that Independent Bank Group, Inc. will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.27%. Independent Bank Group’s payout ratio is presently -14.53%.

Wall Street Analyst Weigh In

IBTX has been the topic of a number of research reports. Truist Financial dropped their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com started coverage on shares of Independent Bank Group in a report on Saturday. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Independent Bank Group currently has a consensus rating of “Hold” and a consensus target price of $58.83.

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.