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 recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $58.83.

IBTX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com started coverage on Independent Bank Group in a report on Thursday, November 14th. They issued a “sell” rating on the stock. Finally, Truist Financial lowered their target price 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.

Institutional Trading of Independent Bank Group

A number of institutional investors have recently modified their holdings of IBTX. FMR LLC raised its holdings in Independent Bank Group by 8.1% during the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after acquiring an additional 279,112 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Independent Bank Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock worth $105,456,000 after acquiring an additional 39,091 shares in the last quarter. Geode Capital Management LLC raised its holdings in Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock worth $50,697,000 after acquiring an additional 15,447 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Independent Bank Group by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock worth $27,981,000 after acquiring an additional 7,287 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Independent Bank Group during the second quarter worth about $14,146,000. 77.90% of the stock is currently owned by institutional investors.

Independent Bank Group Trading Down 0.4 %

Shares of NASDAQ IBTX opened at $63.06 on Thursday. Independent Bank Group has a 12 month low of $36.16 and a 12 month high of $67.92. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -6.03 and a beta of 1.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $59.52 and a 200-day simple moving average of $53.02.

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). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The firm had revenue of $255.18 million for the quarter, compared to analysts’ expectations of $124.48 million. During the same period last year, the business earned $0.79 earnings per share. Sell-side analysts predict that Independent Bank Group will post 2.51 EPS for the current year.

Independent Bank Group Dividend Announcement

The firm 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. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. Independent Bank Group’s payout ratio is -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.