Dimensional Fund Advisors LP Boosts Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Dimensional Fund Advisors LP grew its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,114,470 shares of the bank's stock after purchasing an additional 40,112 shares during the period. Dimensional Fund Advisors LP owned approximately 5.12% of Independent Bank Group worth $107,588,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IBTX. GAMMA Investing LLC bought a new stake in Independent Bank Group during the fourth quarter worth approximately $47,000. NBC Securities Inc. bought a new position in shares of Independent Bank Group during the 3rd quarter valued at $55,000. Signaturefd LLC lifted its holdings in Independent Bank Group by 49.8% in the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank's stock worth $60,000 after purchasing an additional 503 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Independent Bank Group by 51.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank's stock worth $108,000 after acquiring an additional 925 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in Independent Bank Group during the 4th quarter valued at approximately $241,000. 77.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Independent Bank Group from $55.00 to $46.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Piper Sandler lowered Independent Bank Group from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $48.00 to $38.00 in a report on Wednesday, April 24th. Hovde Group cut their target price on Independent Bank Group from $53.00 to $46.00 and set a "market perform" rating for the company in a research note on Wednesday, April 24th. Stephens reiterated an "overweight" rating and set a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Independent Bank Group to a "sell" rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.33.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX traded down $0.15 during midday trading on Wednesday, reaching $46.67. 532,512 shares of the company traded hands, compared to its average volume of 256,262. 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 quick ratio of 0.97 and a current ratio of 0.97. The stock's 50-day simple moving average is $42.17 and its 200-day simple moving average is $44.25. The firm has a market cap of $1.93 billion, a PE ratio of 18.45 and a beta of 1.36.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The firm's quarterly revenue was down 15.3% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. As a group, equities analysts anticipate that Independent Bank Group, Inc. will post 2.57 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd were paid a $0.38 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.26%. Independent Bank Group's dividend payout ratio (DPR) is presently 60.08%.

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.