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

StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research note issued to investors on Sunday morning. The firm issued a sell rating on the bank’s stock.

A number of other research analysts have also recently issued reports on IBTX. Truist Financial decreased their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.33.

Independent Bank Group Stock Up 0.5 %

NASDAQ:IBTX opened at $67.19 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The stock’s fifty day simple moving average is $61.62 and its 200-day simple moving average is $55.06. The firm has a market capitalization of $2.78 billion, a P/E ratio of -6.42 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (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 4.49% and a negative net margin of 43.45%. During the same quarter last year, the business posted $0.79 EPS. Equities research analysts expect that Independent Bank Group will post 2.7 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Institutional Investors Weigh In On Independent Bank Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing an additional 820 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Independent Bank Group in the third quarter valued at about $204,000. Hancock Whitney Corp acquired a new position in shares of Independent Bank Group during the third quarter worth about $222,000. AQR Capital Management LLC bought a new position in shares of Independent Bank Group during the second quarter worth about $212,000. Finally, Everence Capital Management Inc. acquired a new stake in Independent Bank Group in the 3rd quarter valued at approximately $273,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.