Inspire Investing LLC Cuts Stock Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Inspire Investing LLC trimmed its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,626 shares of the bank’s stock after selling 537 shares during the quarter. Inspire Investing LLC’s holdings in Independent Bank Group were worth $402,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its position in shares of Independent Bank Group by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 64,837 shares of the bank’s stock valued at $2,951,000 after purchasing an additional 6,951 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Independent Bank Group by 45.3% during the 2nd quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock worth $2,378,000 after purchasing an additional 16,300 shares during the period. Intech Investment Management LLC purchased a new position in shares of Independent Bank Group during the 2nd quarter valued at approximately $371,000. Sei Investments Co. increased its holdings in Independent Bank Group by 0.8% in the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock valued at $2,894,000 after buying an additional 531 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Independent Bank Group by 47.6% during the 2nd quarter. ProShare Advisors LLC now owns 10,759 shares of the bank’s stock worth $490,000 after acquiring an additional 3,469 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on IBTX. Keefe, Bruyette & Woods raised their price objective on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. StockNews.com began coverage on shares of Independent Bank Group in a research note on Saturday. They set a “sell” rating for the company. Finally, Truist Financial reduced their price objective on 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.60.

Independent Bank Group Stock Up 0.5 %

IBTX stock opened at $60.67 on Friday. Independent Bank Group, Inc. has a one year low of $36.47 and a one year high of $68.66. The firm has a market cap of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The firm’s 50 day moving average price is $62.99 and its 200-day moving average price is $59.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

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.