Silver Lake Advisory LLC Takes $5.49 Million Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Silver Lake Advisory LLC purchased a new stake in shares of Independent Bank Group, Inc. (NASDAQ:IBTX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 120,636 shares of the bank’s stock, valued at approximately $5,491,000. Independent Bank Group comprises about 0.8% of Silver Lake Advisory LLC’s investment portfolio, making the stock its 26th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Independent Bank Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock valued at $212,694,000 after purchasing an additional 22,245 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Independent Bank Group by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after buying an additional 39,091 shares during the period. The Manufacturers Life Insurance Company boosted its position in Independent Bank Group by 4.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 770,665 shares of the bank’s stock worth $39,211,000 after buying an additional 35,806 shares during the period. Magnetar Financial LLC acquired a new stake in Independent Bank Group during the 2nd quarter worth approximately $14,146,000. Finally, Bessemer Group Inc. grew its holdings in Independent Bank Group by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock worth $10,357,000 after acquiring an additional 14,534 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBTX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Truist Financial raised their target price on Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, StockNews.com initiated coverage on Independent Bank Group in a research report on Friday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.33.

Independent Bank Group Trading Up 0.2 %

Shares of Independent Bank Group stock opened at $56.72 on Friday. The stock has a market capitalization of $2.35 billion, a PE ratio of 22.42 and a beta of 1.38. Independent Bank Group, Inc. has a 52 week low of $34.50 and a 52 week high of $61.76. The stock has a 50 day moving average price of $56.19 and a two-hundred day moving average price of $48.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. The business had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. During the same quarter in the previous year, the business posted $0.82 EPS. As a group, equities analysts anticipate that Independent Bank Group, Inc. will post 2.86 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.68%. Independent Bank Group’s dividend payout ratio is presently 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.