Hennessy Advisors Inc. Sells 9,000 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Hennessy Advisors Inc. decreased its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the bank’s stock after selling 9,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.11% of Independent Bank Group worth $2,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in Independent Bank Group by 8.1% in the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after purchasing an additional 279,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Independent Bank Group by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after buying an additional 39,091 shares during the period. Geode Capital Management LLC grew its position in Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock worth $50,697,000 after buying an additional 15,447 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Independent Bank Group by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock valued at $27,981,000 after acquiring an additional 7,287 shares during the period. Finally, Magnetar Financial LLC bought a new position in Independent Bank Group during the second quarter valued at about $14,146,000. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $60.67 on Friday. The business has a 50 day simple moving average of $63.39 and a 200 day simple moving average of $58.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. Independent Bank Group, Inc. has a one year low of $36.47 and a one year high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, sell-side analysts forecast that Independent Bank Group, Inc. will post 2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IBTX has been the topic of several recent research reports. StockNews.com assumed coverage on Independent Bank Group in a report on Friday. They set a “sell” rating on the stock. Keefe, Bruyette & Woods raised their target price on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial lowered their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.33.

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.