Inspire Investing LLC Lowers Stock Position in Independent Bank Group, Inc. (NASDAQ:IBTX)

Inspire Investing LLC trimmed its stake in Independent Bank Group, Inc. (NASDAQ:IBTX) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,626 shares of the bank’s stock after selling 537 shares during the period. Inspire Investing LLC’s holdings in Independent Bank Group were worth $402,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after purchasing an additional 820 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Independent Bank Group in the third quarter valued at $204,000. Hancock Whitney Corp purchased a new stake in shares of Independent Bank Group in the 3rd quarter valued at $222,000. AQR Capital Management LLC acquired a new position in Independent Bank Group during the 2nd quarter worth about $212,000. Finally, Everence Capital Management Inc. acquired a new position in Independent Bank Group during the 3rd quarter worth about $273,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Independent Bank Group Trading Up 0.5 %

NASDAQ:IBTX opened at $60.67 on Friday. The company has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. Independent Bank Group, Inc. has a 52-week low of $36.47 and a 52-week high of $68.66. The stock’s 50 day moving average price is $62.99 and its 200 day moving average price is $59.20. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBTX. StockNews.com initiated coverage on shares of Independent Bank Group in a research note on Saturday. They set a “sell” rating on the stock. Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial dropped their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.60.

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.