Independent Bank Group, Inc. (NASDAQ:IBTX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $58.33.

IBTX has been the subject of several research analyst reports. Truist Financial lifted their price target on Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods lifted their price target on Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, StockNews.com initiated coverage on Independent Bank Group in a research note on Saturday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Independent Bank Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Independent Bank Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock valued at $212,694,000 after acquiring an additional 22,245 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Independent Bank Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after acquiring an additional 39,091 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Independent Bank Group by 4.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 770,665 shares of the bank’s stock valued at $39,211,000 after acquiring an additional 35,806 shares during the last quarter. Magnetar Financial LLC purchased a new position in Independent Bank Group during the 2nd quarter valued at about $14,146,000. Finally, Bessemer Group Inc. increased its holdings in Independent Bank Group by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock valued at $10,357,000 after purchasing an additional 14,534 shares during the period. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Price Performance

NASDAQ:IBTX opened at $56.58 on Wednesday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 22.36 and a beta of 1.38. Independent Bank Group has a 52-week low of $34.50 and a 52-week high of $61.76. The stock has a fifty day moving average of $56.06 and a 200 day moving average of $48.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. During the same quarter last year, the company earned $0.82 earnings per share. On average, research analysts expect that Independent Bank Group will post 2.86 EPS 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. Stockholders of record on Monday, August 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, August 5th. 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.