Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a note issued to investors on Saturday. The firm set a “sell” rating on the bank’s stock.

IBTX has been the topic of a number of other reports. Truist Financial decreased their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Trading Down 0.5 %

Shares of IBTX opened at $66.92 on Friday. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. The company has a market capitalization of $2.77 billion, a PE ratio of -6.40 and a beta of 1.38. The stock has a fifty day moving average of $60.50 and a two-hundred day moving average of $53.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $0.79 earnings per share. As a group, analysts forecast that Independent Bank Group will post 2.7 EPS for the current year.

Hedge Funds Weigh In On Independent Bank Group

Several hedge funds and other institutional investors have recently modified their holdings of IBTX. 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 in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Independent Bank Group in the 3rd quarter valued at about $204,000. AQR Capital Management LLC acquired a new position in shares of Independent Bank Group in the 2nd quarter valued at about $212,000. Hancock Whitney Corp acquired a new position in shares of Independent Bank Group in the 3rd quarter valued at about $222,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Independent Bank Group in the 2nd quarter valued at about $228,000. 77.90% of the stock is owned by institutional investors and hedge funds.

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.