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

Independent Bank Group, Inc. (NASDAQ:IBTX) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two 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 covered the stock in the last year is $52.33.

A number of research firms have commented on IBTX. Truist Financial restated a “hold” rating and issued a $50.00 price target (up from $46.00) on shares of Independent Bank Group in a report on Wednesday, May 29th. Stephens restated an “overweight” rating and issued a $55.00 target price on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their price target on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Piper Sandler upgraded Independent Bank Group from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $58.00 in a report on Friday, May 31st. Finally, StockNews.com began coverage on Independent Bank Group in a report on Sunday. They set a “sell” rating for the company.

Institutional Investors Weigh In On Independent Bank Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Independent Bank Group in the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new stake in Independent Bank Group during the first quarter worth $33,000. GAMMA Investing LLC bought a new stake in Independent Bank Group during the fourth quarter worth $47,000. NBC Securities Inc. boosted its position in Independent Bank Group by 19.7% in the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock worth $76,000 after purchasing an additional 275 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Independent Bank Group by 51.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after purchasing an additional 925 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Independent Bank Group Trading Down 0.2 %

NASDAQ IBTX opened at $43.14 on Monday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 17.05 and a beta of 1.41. The business has a 50 day simple moving average of $42.64 and a 200 day simple moving average of $45.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97. Independent Bank Group has a one year low of $34.30 and a one year high of $53.25.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Research analysts expect that Independent Bank Group will post 2.56 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Wednesday, May 1st. Independent Bank Group’s dividend payout ratio (DPR) is presently 60.08%.

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.