Independent Bank Group (NASDAQ:IBTX) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Sunday. The brokerage set a “sell” rating on the bank’s stock.

IBTX has been the subject of several other research reports. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial cut their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Stock Performance

Shares of NASDAQ IBTX opened at $66.04 on Friday. The firm’s 50-day moving average price is $61.79 and its 200-day moving average price is $55.21. Independent Bank Group has a 52-week low of $36.47 and a 52-week high of $68.66. The company has a market cap of $2.74 billion, a PE ratio of -6.31 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results 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 company had revenue of $255.18 million during the quarter, compared to analysts’ expectations of $124.48 million. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, analysts anticipate that Independent Bank Group will post 2.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Independent Bank Group by 1,576.9% during the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after acquiring an additional 820 shares during the period. CIBC Asset Management Inc bought a new position in shares of Independent Bank Group in the third quarter worth approximately $204,000. Hancock Whitney Corp bought a new position in shares of Independent Bank Group in the third quarter worth approximately $222,000. AQR Capital Management LLC purchased a new stake in shares of Independent Bank Group in the second quarter worth $212,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Independent Bank Group during the 3rd quarter valued at $273,000. Institutional investors own 77.90% of the company’s stock.

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.