KBC Group NV Purchases 552 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX)

KBC Group NV raised its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 38.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,984 shares of the bank’s stock after buying an additional 552 shares during the period. KBC Group NV’s holdings in Independent Bank Group were worth $120,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IBTX. JPMorgan Chase & Co. boosted its stake in shares of Independent Bank Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,746 shares of the bank’s stock valued at $3,849,000 after purchasing an additional 10,307 shares during the last quarter. Jane Street Group LLC grew its position in shares of Independent Bank Group by 76.3% during the 3rd quarter. Jane Street Group LLC now owns 61,046 shares of the bank’s stock worth $3,520,000 after buying an additional 26,414 shares during the period. Blue Trust Inc. increased its stake in shares of Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after acquiring an additional 820 shares in the last quarter. FMR LLC lifted its position in shares of Independent Bank Group by 8.1% during the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock valued at $214,816,000 after acquiring an additional 279,112 shares during the period. Finally, Barclays PLC boosted its stake in Independent Bank Group by 71.9% during the third quarter. Barclays PLC now owns 79,414 shares of the bank’s stock worth $4,578,000 after acquiring an additional 33,213 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

Shares of IBTX opened at $60.67 on Friday. Independent Bank Group, Inc. has a 1 year low of $36.47 and a 1 year high of $68.66. The stock’s fifty day moving average price is $62.13 and its two-hundred day moving average price is $59.69. The firm has a market cap of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IBTX shares. StockNews.com began coverage on Independent Bank Group in a research note on Sunday, February 2nd. They set a “sell” rating on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial lowered their price objective on shares of 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.60.

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.