Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research note published on Saturday. The brokerage issued a sell rating on the bank’s stock.

A number of other research firms have also recently issued reports on IBTX. Keefe, Bruyette & Woods increased their price objective on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Independent Bank Group presently has a consensus rating of “Hold” and a consensus price target of $58.83.

Independent Bank Group Stock Performance

NASDAQ:IBTX opened at $66.85 on Friday. The company has a market capitalization of $2.77 billion, a PE ratio of -6.39 and a beta of 1.38. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day simple moving average of $60.66 and a two-hundred day simple moving average of $54.31.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same quarter last year, the company earned $0.79 earnings per share. Research analysts anticipate that Independent Bank Group will post 2.7 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.27%. Independent Bank Group’s dividend payout ratio (DPR) is currently -14.53%.

Hedge Funds Weigh In On Independent Bank Group

Several large investors have recently bought and sold shares of the stock. Versor Investments LP raised its holdings in shares of Independent Bank Group by 0.7% in the third quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after purchasing an additional 186 shares during the last quarter. Howard Financial Services LTD. lifted its position in shares of Independent Bank Group by 0.8% during the 2nd quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank’s stock worth $1,271,000 after buying an additional 234 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Independent Bank Group by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after buying an additional 300 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Independent Bank Group by 0.8% in the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock valued at $2,894,000 after acquiring an additional 531 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Independent Bank Group by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock valued at $713,000 after acquiring an additional 810 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

About Independent Bank Group

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.