Independent Bank Group (NASDAQ:IBTX) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Independent Bank Group (NASDAQ:IBTX) from a strong sell rating to a sell rating in a research note released on Thursday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on the stock. Stephens reaffirmed a buy rating and issued a $67.00 price objective on shares of Independent Bank Group in a research note on Monday, May 20th. ValuEngine raised shares of Independent Bank Group from a strong sell rating to a sell rating in a research note on Friday, May 24th. Finally, Zacks Investment Research cut shares of Independent Bank Group from a hold rating to a sell rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $63.00.

Shares of IBTX traded up $1.03 during mid-day trading on Thursday, hitting $53.32. 345,403 shares of the company traded hands, compared to its average volume of 217,866. Independent Bank Group has a one year low of $44.14 and a one year high of $69.18. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $51.38 and a 200 day moving average of $53.92. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 11.98 and a beta of 1.43.



Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.05). Independent Bank Group had a net margin of 26.06% and a return on equity of 9.18%. The company had revenue of $145.84 million for the quarter, compared to the consensus estimate of $138.67 million. As a group, analysts anticipate that Independent Bank Group will post 5.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. Independent Bank Group’s payout ratio is presently 22.42%.

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in Independent Bank Group by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,756,303 shares of the bank’s stock worth $80,389,000 after purchasing an additional 216,028 shares during the period. Geode Capital Management LLC raised its holdings in Independent Bank Group by 67.5% in the fourth quarter. Geode Capital Management LLC now owns 401,298 shares of the bank’s stock worth $18,367,000 after purchasing an additional 161,786 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Independent Bank Group by 1,608.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,585 shares of the bank’s stock worth $389,000 after purchasing an additional 7,141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Independent Bank Group by 132.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,989 shares of the bank’s stock worth $153,000 after purchasing an additional 1,702 shares during the period. Finally, Rhumbline Advisers raised its holdings in Independent Bank Group by 51.6% in the first quarter. Rhumbline Advisers now owns 45,788 shares of the bank’s stock worth $2,348,000 after purchasing an additional 15,576 shares during the period. 62.66% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Group Company Profile

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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