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

Independent Bank Group, Inc. (NASDAQ:IBTX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.83.

IBTX has been the subject of several recent analyst reports. Truist Financial cut their target price 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. Keefe, Bruyette & Woods increased their price target on Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com assumed coverage on Independent Bank Group in a research note on Thursday, November 14th. They issued a “sell” rating for the company.

Independent Bank Group Trading Down 0.4 %

Shares of NASDAQ:IBTX opened at $63.06 on Thursday. The company has a market capitalization of $2.61 billion, a P/E ratio of -6.03 and a beta of 1.38. Independent Bank Group has a 1 year low of $36.16 and a 1 year high of $67.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day simple moving average is $59.52 and its 200 day simple moving average is $53.02.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results 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). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. On average, research analysts anticipate that Independent Bank Group will post 2.51 EPS for the current fiscal 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 $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Versor Investments LP grew its position in shares of Independent Bank Group by 0.7% during the 3rd 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 in the last quarter. Howard Financial Services LTD. lifted its stake in Independent Bank Group by 0.8% in the second quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank’s stock worth $1,271,000 after purchasing an additional 234 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Independent Bank Group by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after purchasing an additional 300 shares during the last quarter. ProShare Advisors LLC lifted its stake in Independent Bank Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,290 shares of the bank’s stock worth $333,000 after purchasing an additional 502 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Independent Bank Group by 0.8% in the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock worth $2,894,000 after purchasing an additional 531 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.