Shares of Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $58.17.
Several brokerages have commented on IBTX. Truist Financial boosted their price objective on shares of Independent Bank Group from $48.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Piper Sandler upgraded Independent Bank Group from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $58.00 in a research report on Friday, May 31st. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, StockNews.com initiated coverage on shares of Independent Bank Group in a report on Wednesday. They issued a “sell” rating for the company.
View Our Latest Stock Analysis on IBTX
Independent Bank Group Stock Performance
Independent Bank Group (NASDAQ:IBTX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $252.52 million for the quarter, compared to the consensus estimate of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, equities analysts anticipate that Independent Bank Group will post 2.86 EPS for the current fiscal year.
Independent Bank Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.66%. Independent Bank Group’s payout ratio is presently 60.08%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Independent Bank Group during the 1st quarter worth approximately $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Independent Bank Group in the first quarter worth $33,000. NBC Securities Inc. increased its holdings in Independent Bank Group by 19.7% in the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock valued at $76,000 after purchasing an additional 275 shares during the period. SG Americas Securities LLC acquired a new position in Independent Bank Group during the 1st quarter worth about $203,000. Finally, AQR Capital Management LLC bought a new stake in shares of Independent Bank Group in the 2nd quarter valued at about $212,000. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Independent Bank Group
- What is a Low P/E Ratio and What Does it Tell Investors?
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- What Do S&P 500 Stocks Tell Investors About the Market?
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.