Trail Ridge Investment Advisors LLC purchased a new position in Independent Bank Group, Inc. (NASDAQ:IBTX – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,604 shares of the bank’s stock, valued at approximately $332,000.
Other institutional investors have also bought and sold shares of the company. CWM LLC bought a new position in shares of Independent Bank Group in the 4th quarter worth about $28,000. Modera Wealth Management LLC bought a new position in shares of Independent Bank Group in the 4th quarter worth about $200,000. Penn Davis Mcfarland Inc. acquired a new stake in shares of Independent Bank Group in the 4th quarter worth about $202,000. Pictet Asset Management SA acquired a new stake in shares of Independent Bank Group in the 4th quarter worth about $202,000. Finally, Prudent Man Advisors LLC acquired a new stake in shares of Independent Bank Group in the 4th quarter worth about $217,000. Institutional investors own 73.93% of the company’s stock.
A number of analysts recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Independent Bank Group in a report on Wednesday, March 9th. They issued a “neutral” rating on the stock. StockNews.com assumed coverage on shares of Independent Bank Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Truist Financial raised their target price on shares of Independent Bank Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, January 26th.
Independent Bank Group (NASDAQ:IBTX – Get Rating) last announced its earnings results on Monday, April 25th. The bank reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. Independent Bank Group had a net margin of 33.81% and a return on equity of 8.54%. The company had revenue of $144.03 million during the quarter, compared to analysts’ expectations of $143.21 million. During the same period last year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Independent Bank Group, Inc. will post 5.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, May 4th. Independent Bank Group’s payout ratio is 30.40%.
In related news, EVP James C. White sold 5,371 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $70.06, for a total transaction of $376,292.26. Following the completion of the sale, the executive vice president now directly owns 8,231 shares in the company, valued at $576,663.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James C. White sold 1,361 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $74.86, for a total transaction of $101,884.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,343 shares of company stock valued at $665,542. Corporate insiders own 4.00% of the company’s stock.
About Independent Bank Group (Get Rating)
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that 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.
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