Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $58.33 Consensus PT from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTX) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $58.33.

A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Independent Bank Group in a research report on Saturday. They set a “sell” rating for the company. Truist Financial raised their price target on shares of Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th.

Institutional Investors Weigh In On Independent Bank Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBTX. Headlands Technologies LLC purchased a new stake in shares of Independent Bank Group during the first quarter worth approximately $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Independent Bank Group during the first quarter worth approximately $33,000. NBC Securities Inc. raised its stake in shares of Independent Bank Group by 19.7% during the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock worth $76,000 after purchasing an additional 275 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group during the first quarter worth approximately $203,000. Finally, Trail Ridge Investment Advisors LLC purchased a new stake in shares of Independent Bank Group during the fourth quarter worth approximately $234,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Stock Up 2.3 %

Shares of Independent Bank Group stock opened at $57.35 on Wednesday. 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 $61.76. The firm’s 50-day moving average is $56.16 and its two-hundred day moving average is $48.70. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 22.67 and a beta of 1.38.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $252.52 million for the quarter, compared to analysts’ expectations 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 period last year, the business earned $0.82 EPS. As a group, research analysts expect that Independent Bank Group will post 2.86 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Monday, August 5th. Independent Bank Group’s dividend payout ratio (DPR) is 60.08%.

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.