Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $60.60 Average Price Target from Analysts

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $60.60.

A number of research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com initiated coverage on Independent Bank Group in a research note on Monday. They set a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods upped their target price on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in 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 buying an additional 820 shares during the last quarter. Vestcor Inc acquired a new stake in Independent Bank Group during the 4th quarter worth about $55,000. Smartleaf Asset Management LLC raised its position in shares of Independent Bank Group by 171.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,125 shares of the bank’s stock worth $68,000 after acquiring an additional 710 shares in the last quarter. Collier Financial acquired a new position in shares of Independent Bank Group in the 4th quarter valued at about $75,000. Finally, KBC Group NV boosted its position in shares of Independent Bank Group by 38.5% during the 4th quarter. KBC Group NV now owns 1,984 shares of the bank’s stock valued at $120,000 after purchasing an additional 552 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Trading Up 0.5 %

IBTX stock opened at $60.67 on Tuesday. Independent Bank Group has a 52 week low of $36.47 and a 52 week high of $68.66. The company has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company’s 50-day simple moving average is $61.89 and its 200 day simple moving average is $59.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

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.