Independent Bank Group (NASDAQ:IBTX) Now Covered by StockNews.com

StockNews.com began coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Wednesday morning. The firm issued a sell rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial decreased their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Trading Up 0.5 %

IBTX opened at $60.67 on Wednesday. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. The business’s 50 day moving average price is $63.23 and its 200 day moving average price is $57.26. The stock has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same quarter last year, the firm earned $0.79 EPS. As a group, equities research analysts expect that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.51%. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Independent Bank Group by 18.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,746 shares of the bank’s stock valued at $3,849,000 after purchasing an additional 10,307 shares during the last quarter. Geode Capital Management LLC lifted its stake in Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock valued at $50,697,000 after purchasing an additional 15,447 shares during the last quarter. Barclays PLC boosted its stake in shares of Independent Bank Group by 71.9% during the 3rd quarter. Barclays PLC now owns 79,414 shares of the bank’s stock worth $4,578,000 after acquiring an additional 33,213 shares in the last quarter. XTX Topco Ltd purchased a new position in Independent Bank Group in the 3rd quarter worth about $314,000. Finally, Jane Street Group LLC boosted its holdings in shares of Independent Bank Group by 76.3% in the third quarter. Jane Street Group LLC now owns 61,046 shares of the bank’s stock worth $3,520,000 after buying an additional 26,414 shares during the period. 77.90% of the stock is currently owned by institutional investors.

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.