Raymond James & Associates Purchases 1,548 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Raymond James & Associates grew its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,830 shares of the bank’s stock after buying an additional 1,548 shares during the quarter. Raymond James & Associates’ holdings in Independent Bank Group were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Independent Bank Group during the third quarter worth about $55,000. Signaturefd LLC grew its stake in shares of Independent Bank Group by 49.8% during the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock valued at $60,000 after purchasing an additional 503 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Independent Bank Group by 51.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after purchasing an additional 925 shares during the last quarter. Callahan Advisors LLC bought a new stake in shares of Independent Bank Group during the third quarter valued at approximately $201,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Independent Bank Group during the third quarter valued at approximately $204,000. 77.90% of the stock is owned by institutional investors.

Independent Bank Group Trading Up 0.6 %

Shares of NASDAQ IBTX opened at $41.87 on Tuesday. The company’s 50 day simple moving average is $43.49 and its 200 day simple moving average is $43.63. Independent Bank Group, Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $53.25. The firm has a market capitalization of $1.73 billion, a P/E ratio of 40.26 and a beta of 1.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm had revenue of $116.92 million during the quarter, compared to analyst estimates of $123.83 million. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. The company’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. On average, analysts predict that Independent Bank Group, Inc. will post 2.88 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on IBTX. Keefe, Bruyette & Woods increased their price target on shares of Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. StockNews.com raised shares of Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Truist Financial decreased their price target on shares of Independent Bank Group from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Stephens restated an “overweight” rating and issued a $61.00 price objective on shares of Independent Bank Group in a report on Tuesday, January 23rd. Finally, Raymond James increased their price objective on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Independent Bank Group has a consensus rating of “Moderate Buy” and a consensus target price of $54.20.

About Independent Bank Group

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.