Doliver Advisors LP Sells 443 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Doliver Advisors LP cut its position in Independent Bank Group, Inc. (NASDAQ:IBTX) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,644 shares of the bank’s stock after selling 443 shares during the quarter. Doliver Advisors LP’s holdings in Independent Bank Group were worth $524,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Independent Bank Group by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock valued at $713,000 after acquiring an additional 810 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Independent Bank Group by 11.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 35,042 shares of the bank’s stock worth $1,595,000 after purchasing an additional 3,609 shares during the last quarter. American Century Companies Inc. grew its holdings in Independent Bank Group by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 64,837 shares of the bank’s stock valued at $2,951,000 after buying an additional 6,951 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Independent Bank Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock worth $105,456,000 after buying an additional 39,091 shares during the period. Finally, Renaissance Technologies LLC increased its position in Independent Bank Group by 45.3% in the 2nd quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock worth $2,378,000 after buying an additional 16,300 shares during the period. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBTX. Truist Financial lowered their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Wednesday, January 1st. They issued a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Independent Bank Group currently has an average rating of “Hold” and an average target price of $60.33.

Independent Bank Group Price Performance

IBTX traded up $0.28 during midday trading on Monday, reaching $60.67. 1,552,369 shares of the company’s stock were exchanged, compared to its average volume of 249,738. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $63.34 and a two-hundred day simple moving average of $57.61. The firm has a market capitalization of $2.51 billion, a price-to-earnings 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 announced its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same quarter last year, the company earned $0.79 earnings per share. As a group, research analysts predict that Independent Bank Group, Inc. will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is currently -14.53%.

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.