Independent Bank Group (NASDAQ:IBTX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Sunday. The brokerage issued a sell rating on the bank’s stock.

A number of other brokerages have also weighed in on IBTX. Truist Financial raised their price objective on Independent Bank Group from $48.00 to $65.00 and gave the company a hold rating in a research report on Monday, July 29th. Hovde Group reduced their price objective on Independent Bank Group from $53.00 to $46.00 and set a market perform rating on the stock in a research note on Wednesday, April 24th. Piper Sandler upgraded Independent Bank Group from an underweight rating to an overweight rating and increased their target price for the company from $38.00 to $58.00 in a research report on Friday, May 31st. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an outperform rating in a report on Monday, July 29th. Finally, Stephens reaffirmed an overweight rating and set a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $58.17.

Independent Bank Group Trading Down 0.8 %

Shares of IBTX opened at $55.00 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of 21.74 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. Independent Bank Group has a 1 year low of $34.50 and a 1 year high of $60.53. The company has a 50 day simple moving average of $49.84 and a two-hundred day simple moving average of $45.67.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts expect that Independent Bank Group will post 2.69 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Monday, August 5th. Independent Bank Group’s dividend payout ratio (DPR) is 60.08%.

Institutional Trading of Independent Bank Group

Several hedge funds and other institutional investors have recently bought and sold shares of IBTX. Headlands Technologies LLC bought a new position in Independent Bank Group during the first quarter valued at $30,000. Fidelis Capital Partners LLC purchased a new position in shares of Independent Bank Group during the 1st quarter worth about $33,000. GAMMA Investing LLC purchased a new position in shares of Independent Bank Group during the 4th quarter worth about $47,000. NBC Securities Inc. grew its holdings in Independent Bank Group by 19.7% during the 1st quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock valued at $76,000 after purchasing an additional 275 shares during the last quarter. Finally, Relative Value Partners Group LLC purchased a new stake in Independent Bank Group in the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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.