Allspring Global Investments Holdings LLC Makes New Investment in Independent Bank Group, Inc. (NASDAQ:IBTX)

Allspring Global Investments Holdings LLC bought a new position in Independent Bank Group, Inc. (NASDAQ:IBTXGet Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,417 shares of the bank’s stock, valued at approximately $895,000.

A number of other institutional investors have also recently made changes to their positions in IBTX. Morgan Stanley raised its holdings in Independent Bank Group by 27.6% in the second quarter. Morgan Stanley now owns 137,819 shares of the bank’s stock worth $10,196,000 after purchasing an additional 29,792 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Independent Bank Group by 2,210.8% during the third quarter. SG Americas Securities LLC now owns 59,757 shares of the bank’s stock valued at $4,245,000 after acquiring an additional 57,171 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Independent Bank Group by 22.6% during the third quarter. Advisor Group Holdings Inc. now owns 5,929 shares of the bank’s stock valued at $421,000 after acquiring an additional 1,092 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in shares of Independent Bank Group by 7.4% during the third quarter. Summit Creek Advisors LLC now owns 203,461 shares of the bank’s stock valued at $14,454,000 after acquiring an additional 14,030 shares in the last quarter. Finally, Duality Advisers LP acquired a new position in shares of Independent Bank Group during the third quarter valued at about $993,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Independent Bank Group stock opened at $70.53 on Friday. Independent Bank Group, Inc. has a 12 month low of $62.82 and a 12 month high of $80.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $73.97 and a 200-day simple moving average of $73.85. The stock has a market capitalization of $3.00 billion, a PE ratio of 13.54 and a beta of 1.70.

Independent Bank Group (NASDAQ:IBTXGet Rating) last released its quarterly earnings results on Monday, January 24th. The bank reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Independent Bank Group had a return on equity of 8.88% and a net margin of 34.57%. The business had revenue of $147.74 million during the quarter, compared to analysts’ expectations of $147.30 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Independent Bank Group, Inc. will post 4.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 17th. Shareholders of record on Thursday, February 10th were given a $0.38 dividend. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, February 9th. This represents a $1.52 annualized dividend and a yield of 2.16%. Independent Bank Group’s dividend payout ratio is presently 29.17%.

Several equities analysts have recently issued reports on IBTX shares. Janney Montgomery Scott assumed coverage on shares of Independent Bank Group in a report on Wednesday, March 9th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Wednesday, January 12th. Truist Financial upped their price objective on Independent Bank Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, January 26th. Finally, StockNews.com began coverage on shares of Independent Bank Group in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In other Independent Bank Group news, Director G Stacy Smith sold 9,000 shares of the stock in a transaction on Thursday, January 27th. The stock was sold at an average price of $75.73, for a total value of $681,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James C. White sold 1,361 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $74.86, for a total value of $101,884.46. The disclosure for this sale can be found here. Insiders sold 13,086 shares of company stock valued at $992,298 in the last quarter. 3.40% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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