Analysts’ Recent Ratings Updates for Independent Bank Group (IBTX)

A number of research firms have changed their ratings and price targets for Independent Bank Group (NASDAQ: IBTX):

• 10/29/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/23/2024 – Independent Bank Group had its price target lowered by analysts at Truist Financial Co. from $66.00 to $63.00. They now have a “hold” rating on the stock.
• 10/21/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/13/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/5/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/27/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/20/2024 – Independent Bank Group had its price target raised by analysts at Truist Financial Co. from $65.00 to $66.00. They now have a “hold” rating on the stock.
• 9/19/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/11/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/3/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Independent Bank Group Stock Up 3.1 %

Shares of IBTX opened at $59.03 on Tuesday. 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, Inc. has a 12 month low of $34.50 and a 12 month high of $62.25. The firm’s 50 day moving average is $57.62 and its 200-day moving average is $50.42. The stock has a market capitalization of $2.44 billion, a PE ratio of 23.33 and a beta of 1.38.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The company had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a positive return on equity of 4.34% and a negative net margin of 43.45%. During the same quarter last year, the business earned $0.79 EPS. Equities research analysts forecast that Independent Bank Group, Inc. will post 2.86 EPS for the current year.

Independent Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently 60.08%.

Institutional Investors Weigh In On Independent Bank Group

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Independent Bank Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock worth $212,694,000 after acquiring an additional 22,245 shares during the period. Dimensional Fund Advisors LP lifted its stake in Independent Bank Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock worth $105,456,000 after purchasing an additional 39,091 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Independent Bank Group in the 2nd quarter valued at $14,146,000. Bessemer Group Inc. boosted its holdings in shares of Independent Bank Group by 6.8% in the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock valued at $10,357,000 after purchasing an additional 14,534 shares in the last quarter. Finally, Silver Lake Advisory LLC bought a new position in shares of Independent Bank Group in the 2nd quarter valued at $5,491,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.