Short Interest in Independent Bank Group, Inc. (NASDAQ:IBTX) Increases By 11.6%

Independent Bank Group, Inc. (NASDAQ:IBTX) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,930,000 shares, an increase of 11.6% from the October 31st total of 1,730,000 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average daily trading volume, of 192,300 shares, the short-interest ratio is presently 10.0 days.

Institutional Investors Weigh In On Independent Bank Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Versor Investments LP boosted its stake in shares of Independent Bank Group by 0.7% in the 3rd quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after purchasing an additional 186 shares in the last quarter. Howard Financial Services LTD. boosted its position in Independent Bank Group by 0.8% in the second quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank’s stock valued at $1,271,000 after buying an additional 234 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Independent Bank Group by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after buying an additional 300 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Independent Bank Group by 0.8% during the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock worth $2,894,000 after buying an additional 531 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Independent Bank Group by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock valued at $713,000 after acquiring an additional 810 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Down 0.6 %

NASDAQ:IBTX traded down $0.37 during trading hours on Monday, reaching $66.55. The company’s stock had a trading volume of 78,894 shares, compared to its average volume of 237,783. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -6.35 and a beta of 1.38. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. The business’s 50-day moving average is $60.66 and its 200-day moving average is $54.31.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. During the same quarter last year, the company earned $0.79 earnings per share. Equities research analysts predict that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.28%. Independent Bank Group’s payout ratio is -14.53%.

Analysts Set New Price Targets

A number of research firms have commented on IBTX. Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Saturday. They issued a “sell” rating on the stock. Finally, Truist Financial reduced their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.83.

About Independent Bank Group

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.