Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research report sent to investors on Saturday. The brokerage issued a sell rating on the bank’s stock.

IBTX has been the topic of several other reports. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an outperform rating in a report on Monday, July 29th. Truist Financial raised their price objective on Independent Bank Group from $65.00 to $66.00 and gave the stock a hold rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $58.33.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $56.58 on Friday. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 22.36 and a beta of 1.38. The stock’s 50 day moving average is $56.06 and its 200-day moving average is $48.87. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. Independent Bank Group has a 12 month low of $34.50 and a 12 month high of $61.76.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. The company had revenue of $252.52 million during the quarter, compared to analysts’ expectations of $120.25 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. Equities research analysts expect that Independent Bank Group will post 2.86 EPS for the current year.

Independent Bank Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.69%. Independent Bank Group’s dividend payout ratio (DPR) is 60.08%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Howard Financial Services LTD. lifted its holdings in shares of Independent Bank Group by 0.8% in the second quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank’s stock worth $1,271,000 after acquiring an additional 234 shares during the last quarter. NBC Securities Inc. boosted its position in Independent Bank Group by 19.7% during the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock valued at $76,000 after acquiring an additional 275 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Independent Bank Group by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Independent Bank Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 31,433 shares of the bank’s stock valued at $1,435,000 after acquiring an additional 420 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Independent Bank Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,290 shares of the bank’s stock valued at $333,000 after purchasing an additional 502 shares during the period. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.