Charles Schwab Investment Management Inc. Increases Stock Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Charles Schwab Investment Management Inc. increased its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 428,793 shares of the bank’s stock after buying an additional 28,395 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Independent Bank Group were worth $21,817,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC lifted its position in Independent Bank Group by 49.8% during the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock valued at $60,000 after buying an additional 503 shares in the last quarter. Tectonic Advisors LLC boosted its position in Independent Bank Group by 3.7% during the 4th quarter. Tectonic Advisors LLC now owns 17,205 shares of the bank’s stock worth $875,000 after purchasing an additional 609 shares during the period. Tudor Investment Corp Et Al increased its holdings in Independent Bank Group by 0.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 103,891 shares of the bank’s stock valued at $4,109,000 after purchasing an additional 728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Independent Bank Group by 4.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,531 shares of the bank’s stock valued at $841,000 after purchasing an additional 747 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Independent Bank Group by 1.0% during the third quarter. Swiss National Bank now owns 81,722 shares of the bank’s stock worth $3,232,000 after purchasing an additional 800 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IBTX. Stephens reiterated an “overweight” rating and issued a $55.00 target price on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Hovde Group dropped their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Piper Sandler downgraded shares of Independent Bank Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $48.00 to $38.00 in a research note on Wednesday, April 24th. Truist Financial dropped their price target on shares of Independent Bank Group from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.33.

Independent Bank Group Trading Up 2.2 %

IBTX opened at $46.26 on Friday. Independent Bank Group, Inc. has a 12-month low of $32.75 and a 12-month high of $53.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.91 billion, a PE ratio of 18.28 and a beta of 1.36. The firm’s fifty day moving average price is $42.31 and its 200 day moving average price is $44.37.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. During the same quarter in the previous year, the firm earned $1.07 EPS. The company’s revenue was down 15.3% on a year-over-year basis. As a group, research analysts expect that Independent Bank Group, Inc. will post 2.57 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Wednesday, May 1st. Independent Bank Group’s dividend payout ratio is presently 60.08%.

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.