Howard Financial Services LTD. Acquires 282 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Howard Financial Services LTD. raised its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,120 shares of the bank’s stock after buying an additional 282 shares during the period. Howard Financial Services LTD. owned about 0.07% of Independent Bank Group worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of IBTX. Fifth Third Bancorp purchased a new stake in Independent Bank Group in the first quarter worth about $26,000. Venturi Wealth Management LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $31,000. Exchange Traded Concepts LLC bought a new position in shares of Independent Bank Group during the first quarter valued at approximately $33,000. Brown Brothers Harriman & Co. purchased a new position in Independent Bank Group during the first quarter valued at approximately $38,000. Finally, Point72 Middle East FZE bought a new position in Independent Bank Group in the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 74.74% of the company’s stock.

Independent Bank Group Trading Up 0.8 %

NASDAQ:IBTX traded up $0.32 on Tuesday, hitting $40.47. The stock had a trading volume of 59,530 shares, compared to its average volume of 256,929. The company has a fifty day moving average price of $41.48 and a two-hundred day moving average price of $40.44. Independent Bank Group, Inc. has a 1-year low of $28.81 and a 1-year high of $70.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.67 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Tuesday, July 25th. The bank reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). Independent Bank Group had a return on equity of 7.71% and a net margin of 10.68%. The business had revenue of $127.70 million for the quarter, compared to analyst estimates of $139.17 million. During the same period last year, the business earned $1.27 EPS. Independent Bank Group’s revenue was down 22.4% compared to the same quarter last year. Equities research analysts expect that Independent Bank Group, Inc. will post 3.31 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.52 annualized dividend and a dividend yield of 3.76%. Independent Bank Group’s dividend payout ratio is currently 70.70%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial boosted their price target on Independent Bank Group from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Piper Sandler restated a “neutral” rating and set a $44.00 price target (up previously from $40.00) on shares of Independent Bank Group in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods lowered their target price on shares of Independent Bank Group from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, July 25th. StockNews.com upgraded shares of Independent Bank Group to a “sell” rating in a research note on Thursday, September 14th. Finally, Stephens reiterated an “overweight” rating and set a $41.00 price target on shares of Independent Bank Group in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.40.

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.