Research Analysts’ Weekly Ratings Updates for Independent Bank Group (IBTX)

Several analysts have recently updated their ratings and price targets for Independent Bank Group (NASDAQ: IBTX):

• 10/5/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/27/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/20/2024 – Independent Bank Group had its price target raised by analysts at Truist Financial Co. from $65.00 to $66.00. They now have a “hold” rating on the stock.
• 9/19/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/11/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/3/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 8/26/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 8/18/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 8/10/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Independent Bank Group Trading Down 0.5 %

Shares of Independent Bank Group stock traded down $0.28 on Tuesday, reaching $56.51. The company had a trading volume of 24,935 shares, compared to its average volume of 241,327. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $2.34 billion, a PE ratio of 22.34 and a beta of 1.38. The firm’s 50 day moving average price is $56.12 and its two-hundred day moving average price is $48.78. Independent Bank Group, Inc. has a 52-week low of $34.50 and a 52-week high of $61.76.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $252.52 million for the quarter, compared to analyst estimates of $120.25 million. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. During the same quarter in the prior year, the company earned $0.82 earnings per share. Sell-side analysts predict that Independent Bank Group, Inc. will post 2.86 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were paid a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 annualized dividend and a yield of 2.69%. Independent Bank Group’s dividend payout ratio is currently 60.08%.

Hedge Funds Weigh In On Independent Bank Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trail Ridge Investment Advisors LLC acquired a new position in shares of Independent Bank Group during the fourth quarter worth about $234,000. Vanguard Group Inc. grew its position in Independent Bank Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock worth $212,694,000 after buying an additional 22,245 shares during the period. NBC Securities Inc. raised its position in Independent Bank Group by 19.7% during the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock worth $76,000 after acquiring an additional 275 shares during the last quarter. First Dallas Securities Inc. purchased a new position in Independent Bank Group during the first quarter worth $1,061,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Independent Bank Group in the first quarter worth $441,000. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.