Hsbc Holdings PLC Increases Stake in Independent Bank Group, Inc. (NASDAQ:IBTX)

Hsbc Holdings PLC raised its position in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) by 10.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,353 shares of the bank’s stock after purchasing an additional 1,046 shares during the quarter. Hsbc Holdings PLC’s holdings in Independent Bank Group were worth $584,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Weil Company Inc. bought a new stake in shares of Independent Bank Group during the fourth quarter valued at approximately $252,000. Dimensional Fund Advisors LP increased its holdings in shares of Independent Bank Group by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,470 shares of the bank’s stock worth $107,588,000 after purchasing an additional 40,112 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Independent Bank Group by 33.0% in the 4th quarter. BNP Paribas Financial Markets now owns 24,972 shares of the bank’s stock worth $1,271,000 after purchasing an additional 6,203 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Independent Bank Group by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 428,793 shares of the bank’s stock worth $21,817,000 after purchasing an additional 28,395 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Independent Bank Group during the fourth quarter valued at $47,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IBTX has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Hovde Group decreased their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Piper Sandler downgraded shares of Independent Bank Group from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $48.00 to $38.00 in a research report on Wednesday, April 24th. Stephens reissued an “overweight” rating and set a $55.00 price target on shares of Independent Bank Group in a report on Tuesday, April 23rd. Finally, Truist Financial cut their price objective on Independent Bank Group from $52.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.33.

Independent Bank Group Stock Performance

Shares of Independent Bank Group stock traded up $1.48 on Friday, hitting $40.31. 280,668 shares of the company’s stock were exchanged, compared to its average volume of 214,001. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $1.67 billion, a PE ratio of 15.93 and a beta of 1.36. Independent Bank Group, Inc. has a 1 year low of $28.81 and a 1 year high of $53.25. The company has a 50-day simple moving average of $42.41 and a 200-day simple moving average of $43.59.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The business had revenue of $119.10 million during the quarter, compared to analyst estimates of $121.39 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. Independent Bank Group’s revenue for the quarter was down 15.3% on a year-over-year basis. As a group, equities analysts anticipate that Independent Bank Group, Inc. will post 2.63 EPS for the current year.

Independent Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, May 1st. Independent Bank Group’s dividend payout ratio is 60.08%.

Independent Bank Group 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.