Independent Bank Group, Inc. (NASDAQ:IBTX) Given Average Recommendation of “Moderate Buy” by Brokerages

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

A number of equities analysts recently commented on IBTX shares. StockNews.com started coverage on shares of Independent Bank Group in a research note on Friday, September 27th. They set a “sell” rating for the company. Truist Financial boosted their price objective on shares of Independent Bank Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, July 29th.

Institutional Investors Weigh In On Independent Bank Group

Several hedge funds have recently modified their holdings of IBTX. Headlands Technologies LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $30,000. Fidelis Capital Partners LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $33,000. NBC Securities Inc. lifted its position in shares of Independent Bank Group by 19.7% in the 1st 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 period. SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $203,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Independent Bank Group in the 2nd quarter worth approximately $212,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Independent Bank Group Price Performance

IBTX stock opened at $55.90 on Wednesday. Independent Bank Group has a 12 month low of $34.50 and a 12 month high of $61.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $56.25 and a 200 day moving average price of $48.32. The stock has a market cap of $2.31 billion, a PE ratio of 22.09 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 EPS for the quarter, topping 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 firm had revenue of $252.52 million during the quarter, compared to analysts’ expectations of $120.25 million. During the same period in the previous year, the company earned $0.82 EPS. Equities research analysts anticipate that Independent Bank Group will post 2.86 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. Independent Bank Group’s payout ratio is presently 60.08%.

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.