Independent Bank Group, Inc. (NASDAQ:IBTX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Independent Bank Group, Inc. (NASDAQ:IBTX – Get Rating) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,300 shares of the bank’s stock after selling 234 shares during the period. New York State Teachers Retirement System’s holdings in Independent Bank Group were worth $939,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. PDT Partners LLC lifted its holdings in Independent Bank Group by 5.2% in the 2nd quarter. PDT Partners LLC now owns 11,142 shares of the bank’s stock valued at $757,000 after acquiring an additional 550 shares during the last quarter. Arizona State Retirement System grew its holdings in Independent Bank Group by 5.6% during the second quarter. Arizona State Retirement System now owns 10,422 shares of the bank’s stock valued at $708,000 after purchasing an additional 557 shares during the last quarter. Rhumbline Advisers grew its holdings in Independent Bank Group by 1.6% during the second quarter. Rhumbline Advisers now owns 116,089 shares of the bank’s stock valued at $7,884,000 after purchasing an additional 1,784 shares during the last quarter. KBC Group NV bought a new stake in shares of Independent Bank Group in the second quarter valued at approximately $209,000. Finally, Swiss National Bank boosted its position in shares of Independent Bank Group by 5.1% in the second quarter. Swiss National Bank now owns 90,622 shares of the bank’s stock valued at $6,154,000 after acquiring an additional 4,400 shares during the period. Institutional investors own 75.83% of the company’s stock.

Independent Bank Group Price Performance

Shares of IBTX opened at $59.21 on Friday. Independent Bank Group, Inc. has a 12-month low of $56.22 and a 12-month high of $79.14. The business has a 50-day simple moving average of $62.01 and a two-hundred day simple moving average of $65.60. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.44 billion, a PE ratio of 11.94 and a beta of 1.41.

Independent Bank Group (NASDAQ:IBTX – Get Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). The company had revenue of $160.75 million during the quarter, compared to the consensus estimate of $160.09 million. Independent Bank Group had a net margin of 31.47% and a return on equity of 8.77%. During the same quarter in the prior year, the business earned $1.22 EPS. Analysts anticipate that Independent Bank Group, Inc. will post 5.1 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 3rd were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 2.57%. Independent Bank Group’s dividend payout ratio is presently 30.65%.

Analyst Ratings Changes

Several research firms have issued reports on IBTX. Hovde Group lowered Independent Bank Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $82.50 to $70.00 in a research note on Wednesday, October 26th. StockNews.com cut Independent Bank Group from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Truist Financial reduced their target price on Independent Bank Group from $74.00 to $70.00 in a report on Friday, December 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.75.

About Independent Bank Group

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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.