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

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report released on Monday. The firm set a “sell” rating on the bank’s stock.

Several other equities research analysts have also recently issued reports on IBTX. Truist Financial cut their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Trading Down 1.0 %

Shares of IBTX stock opened at $65.72 on Monday. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The company has a market capitalization of $2.72 billion, a PE ratio of -6.28 and a beta of 1.39. The firm has a 50 day moving average price of $62.62 and a two-hundred day moving average price of $55.79. 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 (NASDAQ:IBTX) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share 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 firm had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, analysts predict that Independent Bank Group will post 2.7 earnings per share for the current year.

Institutional Investors Weigh In On Independent Bank Group

A number of institutional investors have recently added to or reduced their stakes in the business. Versor Investments LP increased its stake in shares of Independent Bank Group by 0.7% in the third quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after buying an additional 186 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Independent Bank Group by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $824,000 after acquiring an additional 300 shares during the last quarter. Sei Investments Co. increased its position in Independent Bank Group by 0.8% during the 2nd quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock valued at $2,894,000 after purchasing an additional 531 shares during the period. Victory Capital Management Inc. raised its holdings in Independent Bank Group by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock worth $713,000 after purchasing an additional 810 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Independent Bank Group by 1,576.9% during 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 last quarter. 77.90% of the stock is 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.