Independent Bank Group (NASDAQ:IBTX) Research Coverage Started at StockNews.com

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

IBTX has been the subject of several other research reports. Truist Financial decreased 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. 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 research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Independent Bank Group has a consensus rating of “Hold” and an average price target of $58.83.

Independent Bank Group Stock Down 0.4 %

NASDAQ:IBTX opened at $63.57 on Thursday. Independent Bank Group has a one year low of $36.16 and a one year high of $67.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm’s 50 day simple moving average is $59.05 and its 200 day simple moving average is $52.51.

Independent Bank Group (NASDAQ:IBTX) last issued 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 business had revenue of $255.18 million during 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 earned $0.79 EPS. On average, equities analysts anticipate that Independent Bank Group will post 2.51 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 2.39%. Independent Bank Group’s payout ratio is currently -14.53%.

Hedge Funds Weigh In On Independent Bank Group

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Independent Bank Group during the 1st quarter valued at $30,000. Blue Trust Inc. boosted its position 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 worth $50,000 after purchasing an additional 820 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Independent Bank Group in the 1st quarter valued at about $203,000. CIBC Asset Management Inc bought a new stake in Independent Bank Group in the 3rd quarter valued at about $204,000. Finally, AQR Capital Management LLC acquired a new position in Independent Bank Group during the 2nd quarter worth approximately $212,000. 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.