Independent Bank Group, Inc. (NASDAQ:IBTX) Short Interest Update

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

Independent Bank Group Trading Down 0.1 %

NASDAQ IBTX opened at $66.85 on Tuesday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -6.39 and a beta of 1.39. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. 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 business’s fifty day moving average is $60.82 and its 200-day moving average is $54.48.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $124.48 million. During the same period last year, the company posted $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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.27%. Independent Bank Group’s dividend payout ratio is currently -14.53%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price target on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com assumed coverage on shares of Independent Bank Group in a research note on Saturday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Independent Bank Group currently has an average rating of “Hold” and a consensus price target of $58.83.

Institutional Investors Weigh In On Independent Bank Group

A number of hedge funds have recently modified their holdings of IBTX. Silver Lake Advisory LLC purchased a new stake in shares of Independent Bank Group in the second quarter valued at about $5,491,000. Water Island Capital LLC bought a new stake in Independent Bank Group in the second quarter valued at about $806,000. Magnetar Financial LLC bought a new position in shares of Independent Bank Group during the second quarter worth about $14,146,000. Hennessy Advisors Inc. bought a new position in Independent Bank Group during the 2nd quarter valued at $228,000. Finally, Renaissance Technologies LLC lifted its stake in Independent Bank Group by 45.3% during the second quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock valued at $2,378,000 after buying an additional 16,300 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Independent Bank Group Company 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.