Independent Bank Group (NASDAQ:IBTX) Now Covered by Analysts at StockNews.com

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

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.33.

Independent Bank Group Stock Performance

Shares of Independent Bank Group stock opened at $61.55 on Tuesday. The business has a 50-day simple moving average of $63.08 and a 200-day simple moving average of $56.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. The company has a market cap of $2.55 billion, a PE ratio of -5.88 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The firm had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts forecast that Independent Bank Group will post 2.7 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.38 per share. 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 2.47%. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Institutional Investors Weigh In On Independent Bank Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after acquiring an additional 820 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Independent Bank Group during the 3rd quarter worth $204,000. AQR Capital Management LLC acquired a new position in Independent Bank Group in the second quarter valued at $212,000. Hancock Whitney Corp purchased a new stake in shares of Independent Bank Group in the third quarter valued at about $222,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Independent Bank Group during the third quarter worth about $273,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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.