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

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

IBTX has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial reduced their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.33.

Independent Bank Group Stock Up 0.5 %

Shares of NASDAQ:IBTX opened at $67.19 on Friday. 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 $61.62 and a 200 day simple moving average of $55.00. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The firm has a market cap of $2.78 billion, a P/E ratio of -6.42 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last issued its 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). The firm had revenue of $255.18 million for the quarter, compared to analyst estimates of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same period in the previous year, the company earned $0.79 earnings per share. Analysts predict that Independent Bank Group will post 2.7 earnings per share for the current year.

Institutional Investors Weigh In On Independent Bank Group

Large investors have recently added to or reduced their stakes in the company. Versor Investments LP lifted its position in Independent Bank Group by 0.7% during the 3rd quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after acquiring an additional 186 shares during the period. Louisiana State Employees Retirement System lifted its position in Independent Bank Group by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $824,000 after acquiring an additional 300 shares during the period. Sei Investments Co. lifted its position in Independent Bank Group by 0.8% during the 2nd quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock valued at $2,894,000 after acquiring an additional 531 shares during the period. Victory Capital Management Inc. lifted its position in Independent Bank Group by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock valued at $713,000 after acquiring an additional 810 shares during the period. Finally, Blue Trust Inc. lifted its position in Independent Bank Group by 1,576.9% during the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after acquiring an additional 820 shares during the period. Institutional investors own 77.90% of the company’s stock.

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.