Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) has been given an average rating of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $52.33.
Several research firms have commented on IBTX. Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Independent Bank Group in a report on Tuesday, April 23rd. Hovde Group cut their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Truist Financial reissued a “hold” rating and set a $50.00 target price (up previously from $46.00) on shares of Independent Bank Group in a report on Wednesday, May 29th. Keefe, Bruyette & Woods cut their price target on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, StockNews.com began coverage on Independent Bank Group in a research note on Sunday. They set a “sell” rating on the stock.
Get Our Latest Stock Report on IBTX
Hedge Funds Weigh In On Independent Bank Group
Independent Bank Group Trading Up 0.3 %
Shares of IBTX stock opened at $43.86 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.81 billion, a P/E ratio of 17.34 and a beta of 1.41. The company has a 50 day moving average of $42.89 and a 200-day moving average of $45.22. Independent Bank Group has a 12-month low of $34.30 and a 12-month high of $53.25.
Independent Bank Group (NASDAQ:IBTX – Get Free Report) last released its earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The business had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. During the same period last year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. Sell-side analysts anticipate that Independent Bank Group will post 2.56 earnings per share for the current year.
Independent Bank Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.47%. Independent Bank Group’s dividend payout ratio (DPR) 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.
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