Hancock Whitney Corp Purchases New Shares in Independent Bank Group, Inc. (NASDAQ:IBTX)

Hancock Whitney Corp acquired a new position in Independent Bank Group, Inc. (NASDAQ:IBTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,847 shares of the bank’s stock, valued at approximately $222,000.

Several other large investors also recently made changes to their positions in IBTX. Silver Lake Advisory LLC bought a new stake in Independent Bank Group during the 2nd quarter worth about $5,491,000. Water Island Capital LLC bought a new stake in shares of Independent Bank Group during the second quarter valued at approximately $806,000. Magnetar Financial LLC acquired a new stake in shares of Independent Bank Group in the second quarter valued at approximately $14,146,000. Hennessy Advisors Inc. bought a new position in Independent Bank Group in the 2nd quarter worth approximately $228,000. Finally, Renaissance Technologies LLC lifted its holdings in Independent Bank Group by 45.3% during 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 in the last quarter. Institutional investors own 77.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IBTX shares. Truist Financial dropped their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. StockNews.com assumed coverage on shares of Independent Bank Group in a research report on Friday, November 22nd. They set a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Stock Up 0.1 %

Shares of NASDAQ:IBTX opened at $67.26 on Thursday. The company has a market capitalization of $2.79 billion, a PE ratio of -6.43 and a beta of 1.38. Independent Bank Group, Inc. has a 52 week low of $36.16 and a 52 week high of $68.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $60.21 and a two-hundred day moving average price of $53.78.

Independent Bank Group (NASDAQ:IBTX) last announced 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). The company had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same quarter last year, the business posted $0.79 earnings per share. Analysts forecast that Independent Bank Group, Inc. will post 2.7 earnings per share for the current year.

Independent Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.26%. Independent Bank Group’s dividend payout ratio is currently -14.53%.

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.