Hsbc Holdings PLC Has $584,000 Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Hsbc Holdings PLC grew its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,353 shares of the bank’s stock after buying an additional 1,046 shares during the period. Hsbc Holdings PLC’s holdings in Independent Bank Group were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its position in Independent Bank Group by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,459 shares of the bank’s stock valued at $809,000 after purchasing an additional 295 shares during the period. Signaturefd LLC increased its position in shares of Independent Bank Group by 49.8% during the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after buying an additional 503 shares during the period. Tectonic Advisors LLC raised its stake in Independent Bank Group by 3.7% during the fourth quarter. Tectonic Advisors LLC now owns 17,205 shares of the bank’s stock worth $875,000 after buying an additional 609 shares during the last quarter. Tudor Investment Corp Et Al lifted its holdings in Independent Bank Group by 0.7% in the third quarter. Tudor Investment Corp Et Al now owns 103,891 shares of the bank’s stock valued at $4,109,000 after buying an additional 728 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Independent Bank Group by 4.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,531 shares of the bank’s stock valued at $841,000 after acquiring an additional 747 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBTX. Stephens reissued an “overweight” rating and issued a $55.00 price objective on shares of Independent Bank Group in a research report on Tuesday, April 23rd. Raymond James boosted their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Piper Sandler downgraded shares of Independent Bank Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $48.00 to $38.00 in a research report on Wednesday, April 24th. Hovde Group lowered their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Finally, Truist Financial cut their target price on shares of Independent Bank Group from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Independent Bank Group presently has a consensus rating of “Hold” and an average target price of $48.33.

Independent Bank Group Stock Up 3.8 %

Shares of NASDAQ:IBTX traded up $1.48 during trading on Friday, reaching $40.31. 280,668 shares of the stock were exchanged, compared to its average volume of 214,001. Independent Bank Group, Inc. has a 1-year low of $28.81 and a 1-year high of $53.25. The stock has a fifty day moving average of $42.41 and a two-hundred day moving average of $43.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 15.93 and a beta of 1.36.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $121.39 million. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the firm earned $1.07 earnings per share. Research analysts anticipate that Independent Bank Group, Inc. will post 2.63 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.77%. Independent Bank Group’s dividend payout ratio (DPR) is currently 60.08%.

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.