Icon Wealth Advisors LLC Sells 2,043 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

Icon Wealth Advisors LLC decreased its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 36.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,487 shares of the bank’s stock after selling 2,043 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Independent Bank Group were worth $201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after purchasing an additional 820 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Independent Bank Group during the third quarter valued at about $204,000. AQR Capital Management LLC bought a new stake in Independent Bank Group during the second quarter valued at about $212,000. Hennessy Advisors Inc. bought a new stake in Independent Bank Group during the second quarter valued at about $228,000. Finally, Townsend Asset Management Corp NC ADV bought a new stake in Independent Bank Group during the second quarter valued at about $230,000. Institutional investors own 77.90% of the company’s stock.

Analyst Ratings Changes

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

Independent Bank Group Price Performance

Shares of NASDAQ IBTX opened at $65.49 on Monday. 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 market cap of $2.71 billion, a PE ratio of -6.26 and a beta of 1.38. The business has a 50-day simple moving average of $59.88 and a two-hundred day simple moving average of $53.44. Independent Bank Group, Inc. has a fifty-two week low of $36.16 and a fifty-two week high of $67.92.

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

Independent Bank Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s payout ratio is -14.53%.

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.