Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $57.83 Average PT from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTX) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $57.83.

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. StockNews.com started coverage on Independent Bank Group in a report on Tuesday, October 29th. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods upped their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, July 29th.

Independent Bank Group Trading Down 0.8 %

Shares of IBTX stock opened at $57.88 on Friday. The business’s fifty day moving average price is $57.87 and its 200 day moving average price is $50.78. The firm has a market capitalization of $2.40 billion, a PE ratio of -5.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Independent Bank Group has a 1-year low of $34.54 and a 1-year high of $62.25.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. During the same period last year, the company earned $0.79 earnings per share. As a group, sell-side analysts forecast that Independent Bank Group will post 2.51 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Institutional Trading of Independent Bank Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Independent Bank Group in the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC acquired a new position in shares of Independent Bank Group in the first quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in shares of Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after buying an additional 820 shares during the period. SG Americas Securities LLC acquired a new stake in Independent Bank Group during the first quarter worth approximately $203,000. Finally, AQR Capital Management LLC purchased a new stake in Independent Bank Group in the 2nd quarter worth approximately $212,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.