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

Independent Bank Group, Inc. (NASDAQ:IBTX) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.83.

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial cut their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, StockNews.com started coverage on Independent Bank Group in a research note on Monday, October 21st. They issued a “sell” rating on the stock.

Independent Bank Group Stock Performance

IBTX stock opened at $57.26 on Friday. 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 stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -5.47 and a beta of 1.38. Independent Bank Group has a 1 year low of $34.50 and a 1 year high of $62.25. The stock’s fifty day moving average is $57.55 and its two-hundred day moving average is $50.22.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The company had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.34%. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, research analysts predict that Independent Bank Group will post 2.86 EPS for the current year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, October 31st. Independent Bank Group’s dividend payout ratio is currently -14.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBTX. Headlands Technologies LLC acquired a new position in Independent Bank Group during the first quarter worth about $30,000. Fidelis Capital Partners LLC acquired a new position in Independent Bank Group during the first quarter worth about $33,000. Blue Trust Inc. increased its stake in Independent Bank Group by 1,576.9% in 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 purchased a new position in Independent Bank Group in the 1st quarter worth about $203,000. Finally, AQR Capital Management LLC purchased a new position in Independent Bank Group in the 2nd quarter worth about $212,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.