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

Independent Bank Group, Inc. (NASDAQ:IBTX) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $58.83.

A number of brokerages recently weighed in on IBTX. StockNews.com began coverage on shares of Independent Bank Group in a research report on Friday, November 22nd. They issued a “sell” rating for the company. 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $67.26 on Thursday. The stock has a market cap of $2.79 billion, a P/E ratio of -6.43 and a beta of 1.38. The company has a fifty day simple moving average of $60.21 and a 200-day simple moving average of $53.78. Independent Bank Group has a 12-month low of $36.16 and a 12-month high of $68.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $255.18 million for the quarter, compared to analysts’ expectations of $124.48 million. During the same period last year, the firm posted $0.79 earnings per share. Equities analysts expect that Independent Bank Group will post 2.7 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.26%. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased 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 worth $50,000 after acquiring an additional 820 shares during the period. SG Americas Securities LLC acquired a new position in shares of Independent Bank Group during the first quarter worth about $203,000. CIBC Asset Management Inc acquired a new position in shares of Independent Bank Group during the third quarter worth about $204,000. AQR Capital Management LLC acquired a new position in shares of Independent Bank Group during the second quarter worth about $212,000. Finally, Hancock Whitney Corp acquired a new position in shares of Independent Bank Group during the third quarter worth about $222,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

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.