Independent Bank Group (NASDAQ:IBTX) Coverage Initiated by Analysts at StockNews.com

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

IBTX has been the topic of a number of other research reports. Piper Sandler raised shares of Independent Bank Group from an underweight rating to an overweight rating and raised their price target for the company from $38.00 to $58.00 in a report on Friday, May 31st. Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an outperform rating in a research report on Monday, July 29th. Finally, Truist Financial increased their price target on Independent Bank Group from $48.00 to $65.00 and gave the company a hold rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Independent Bank Group has an average rating of Hold and an average target price of $58.33.

Independent Bank Group Trading Down 3.6 %

NASDAQ:IBTX opened at $58.83 on Thursday. Independent Bank Group has a 52 week low of $34.50 and a 52 week high of $61.76. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 23.25 and a beta of 1.38. The company’s 50 day moving average price is $55.86 and its 200-day moving average price is $47.76. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.25.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. The business had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. During the same quarter last year, the company earned $0.82 EPS. On average, equities research analysts forecast that Independent Bank Group will post 2.86 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.58%. Independent Bank Group’s dividend payout ratio is currently 60.08%.

Institutional Trading of Independent Bank Group

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Independent Bank Group during the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC purchased a new position in Independent Bank Group during the first quarter valued at approximately $33,000. NBC Securities Inc. boosted its position in shares of Independent Bank Group by 19.7% in the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock worth $76,000 after purchasing an additional 275 shares during the period. Relative Value Partners Group LLC purchased a new stake in shares of Independent Bank Group in the fourth quarter worth $217,000. Finally, SG Americas Securities LLC bought a new stake in shares of Independent Bank Group during the 1st quarter valued at $203,000. Institutional investors own 77.90% of the company’s stock.

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.