SG Americas Securities LLC Acquires 4,537 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

SG Americas Securities LLC increased its position in Independent Bank Group, Inc. (NASDAQ:IBTX – Get Rating) by 138.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,809 shares of the bank’s stock after purchasing an additional 4,537 shares during the period. SG Americas Securities LLC’s holdings in Independent Bank Group were worth $479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its stake in Independent Bank Group by 1.0% in the second quarter. Texas Permanent School Fund now owns 26,326 shares of the bank’s stock worth $1,788,000 after purchasing an additional 258 shares during the period. Point72 Hong Kong Ltd grew its stake in Independent Bank Group by 17.8% in the first quarter. Point72 Hong Kong Ltd now owns 1,876 shares of the bank’s stock worth $133,000 after purchasing an additional 283 shares during the period. Advisory Research Inc. grew its stake in Independent Bank Group by 3.7% in the second quarter. Advisory Research Inc. now owns 8,287 shares of the bank’s stock worth $563,000 after purchasing an additional 295 shares during the period. BNP Paribas Arbitrage SA grew its stake in Independent Bank Group by 2.7% in the second quarter. BNP Paribas Arbitrage SA now owns 15,684 shares of the bank’s stock worth $1,065,000 after purchasing an additional 411 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in Independent Bank Group by 10.8% in the first quarter. Evergreen Capital Management LLC now owns 4,533 shares of the bank’s stock worth $323,000 after purchasing an additional 443 shares during the period. 75.83% of the stock is owned by hedge funds and other institutional investors.

Independent Bank Group Trading Down 3.3 %

Independent Bank Group stock opened at $59.28 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. Independent Bank Group, Inc. has a one year low of $56.22 and a one year high of $79.14. The stock has a market capitalization of $2.44 billion, a PE ratio of 11.95 and a beta of 1.41. The business’s fifty day moving average is $61.66 and its 200 day moving average is $65.38.

Independent Bank Group (NASDAQ:IBTX – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The bank reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). Independent Bank Group had a net margin of 31.47% and a return on equity of 8.77%. The business had revenue of $201.00 million for the quarter, compared to analysts’ expectations of $161.40 million. During the same period last year, the business earned $1.28 earnings per share. On average, sell-side analysts predict that Independent Bank Group, Inc. will post 5.1 EPS for the current year.

Wall Street Analyst Weigh In

IBTX has been the topic of a number of recent research reports. Truist Financial cut their target price on Independent Bank Group from $74.00 to $70.00 in a research note on Friday, December 9th. StockNews.com cut Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Finally, Hovde Group cut Independent Bank Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $82.50 to $70.00 in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Independent Bank Group presently has a consensus rating of “Hold” and a consensus price target of $73.75.

Independent Bank Group Profile

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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.