StockNews.com Begins Coverage on Independent Bank Group (NASDAQ:IBTX)

Research analysts at StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the bank’s stock.

A number of other brokerages have also recently issued reports on IBTX. Truist Financial upped their target price on Independent Bank Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Independent Bank Group has a consensus rating of “Hold” and a consensus price target of $58.33.

Independent Bank Group Trading Up 2.3 %

Shares of IBTX stock opened at $57.35 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $2.37 billion, a PE ratio of 22.67 and a beta of 1.38. The company has a 50-day moving average of $56.20 and a two-hundred day moving average of $48.52. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $61.76.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $252.52 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.82 earnings per share. On average, analysts predict that Independent Bank Group will post 2.86 EPS for the current year.

Hedge Funds Weigh In On Independent Bank Group

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Independent Bank Group during the 1st quarter valued at $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Independent Bank Group in the first quarter worth $33,000. NBC Securities Inc. lifted its position 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 bought a new position in shares of Independent Bank Group during the first quarter worth about $203,000. Finally, Trail Ridge Investment Advisors LLC acquired a new position in shares of Independent Bank Group in the 4th quarter worth approximately $234,000. 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.