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

StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research report released on Thursday morning. The brokerage issued a sell rating on the bank’s stock.

A number of other equities research analysts have also commented on the company. Truist Financial lowered their price target on 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. Keefe, Bruyette & Woods increased their target price on shares of Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.83.

Independent Bank Group Price Performance

NASDAQ:IBTX opened at $63.57 on Thursday. 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 one year low of $36.16 and a one year high of $67.92. The firm has a 50-day moving average of $59.05 and a 200-day moving average of $52.51.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The company had revenue of $255.18 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.79 earnings per share. As a group, analysts anticipate that Independent Bank Group will post 2.51 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.39%. Independent Bank Group’s dividend payout ratio is currently -14.53%.

Institutional Investors Weigh In On Independent Bank Group

Several large investors have recently made changes to their positions in IBTX. Headlands Technologies LLC purchased a new position in shares of Independent Bank Group in the 1st quarter worth about $30,000. Blue Trust Inc. boosted its stake in Independent Bank Group by 1,576.9% in the third 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 last quarter. SG Americas Securities LLC purchased a new position in Independent Bank Group in the first quarter valued at about $203,000. CIBC Asset Management Inc bought a new position in shares of Independent Bank Group during the 3rd quarter valued at approximately $204,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Independent Bank Group during the 2nd quarter worth approximately $212,000. 77.90% of the stock is owned by hedge funds and other 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.