Independent Bank Group, Inc. (NASDAQ:IBTX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $60.33.

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial dropped 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 note on Wednesday, October 23rd. Finally, StockNews.com assumed coverage on shares of Independent Bank Group in a research note on Monday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Independent Bank Group

Several large investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing an additional 820 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Independent Bank Group during the third quarter worth $204,000. AQR Capital Management LLC acquired a new position in Independent Bank Group during the second quarter worth $212,000. Hancock Whitney Corp acquired a new position in Independent Bank Group during the third quarter worth $222,000. Finally, Hennessy Advisors Inc. acquired a new position in Independent Bank Group during the second quarter worth $228,000. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Trading Down 1.0 %

IBTX opened at $65.72 on Monday. 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 company has a market cap of $2.72 billion, a price-to-earnings ratio of -6.28 and a beta of 1.39. The firm has a 50 day simple moving average of $62.62 and a 200 day simple moving average of $55.79. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The business 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 last year, the firm earned $0.79 earnings per share. On average, sell-side analysts anticipate that Independent Bank Group will post 2.7 earnings per share for the current year.

Independent Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s payout ratio is presently -14.53%.

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.