Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its holdings in shares of Independent Bank Group, Inc. (NASDAQ:IBTXGet Rating) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,299 shares of the bank’s stock after purchasing an additional 254 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Independent Bank Group were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CWM LLC purchased a new position in shares of Independent Bank Group during the 4th quarter worth $28,000. Strs Ohio purchased a new position in shares of Independent Bank Group during the 1st quarter worth $64,000. Point72 Hong Kong Ltd grew its holdings in shares of Independent Bank Group by 457.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,593 shares of the bank’s stock worth $115,000 after purchasing an additional 1,307 shares during the period. Modera Wealth Management LLC purchased a new position in shares of Independent Bank Group during the 4th quarter worth $200,000. Finally, Pictet Asset Management SA purchased a new position in shares of Independent Bank Group during the 4th quarter worth $202,000. 73.93% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Group Stock Performance

Shares of Independent Bank Group stock opened at $70.72 on Monday. The business has a 50-day moving average of $69.34 and a 200 day moving average of $72.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.43 and a beta of 1.56. Independent Bank Group, Inc. has a 12 month low of $62.82 and a 12 month high of $79.66.

Independent Bank Group (NASDAQ:IBTXGet Rating) last announced its quarterly earnings data on Monday, July 25th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.04. Independent Bank Group had a return on equity of 8.34% and a net margin of 32.74%. During the same period in the previous year, the firm posted $1.35 earnings per share. As a group, sell-side analysts forecast that Independent Bank Group, Inc. will post 5.27 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, August 3rd. Independent Bank Group’s payout ratio is presently 31.02%.

Insider Activity

In other news, COO Michael B. Hobbs sold 2,611 shares of Independent Bank Group stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $71.76, for a total value of $187,365.36. Following the completion of the transaction, the chief operating officer now owns 33,328 shares in the company, valued at approximately $2,391,617.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michael B. Hobbs sold 2,611 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $71.76, for a total transaction of $187,365.36. Following the sale, the chief operating officer now owns 33,328 shares of the company’s stock, valued at approximately $2,391,617.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James C. White sold 876 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $72.71, for a total value of $63,693.96. Following the sale, the executive vice president now directly owns 7,355 shares in the company, valued at approximately $534,782.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,858 shares of company stock worth $627,352. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IBTX has been the subject of a number of research analyst reports. Stephens increased their price target on Independent Bank Group to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Truist Financial raised their target price on Independent Bank Group to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Finally, Piper Sandler lowered their target price on Independent Bank Group to $76.00 in a report on Monday, July 4th.

Independent Bank Group Profile

(Get Rating)

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that 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.

Further Reading

Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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