Independent Bank Group (NASDAQ:IBTX) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research note issued on Wednesday. The firm set a “sell” rating on the bank’s stock.

A number of other equities research analysts also recently commented on IBTX. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial lowered their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Wednesday, October 23rd. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.33.

Independent Bank Group Stock Up 0.5 %

IBTX opened at $60.67 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The stock’s fifty day moving average is $63.18 and its 200-day moving average is $57.24. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last issued 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). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The business had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same period in the previous year, the company posted $0.79 earnings per share. On average, equities analysts predict that Independent Bank Group will post 2.7 EPS for the current fiscal year.

Institutional Trading of Independent Bank Group

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after purchasing an additional 820 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Independent Bank Group in the third quarter worth about $204,000. Hancock Whitney Corp acquired a new stake in shares of Independent Bank Group in the third quarter worth about $222,000. AQR Capital Management LLC bought a new stake in shares of Independent Bank Group during the 2nd quarter worth about $212,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Independent Bank Group during the 3rd quarter valued at about $273,000. 77.90% of the stock is 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.