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 research note issued on Thursday. The brokerage set a “sell” rating on the bank’s stock.

Several other equities analysts have also issued reports on IBTX. 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, October 23rd. Keefe, Bruyette & Woods increased their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Price Performance

Independent Bank Group stock opened at $60.67 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -5.80 and a beta of 1.39. The firm has a 50-day moving average of $63.43 and a two-hundred day moving average of $57.88. Independent Bank Group has a 1 year low of $36.47 and a 1 year high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data 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 business had revenue of $255.18 million for 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 4.49%. During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, research analysts forecast that Independent Bank Group will post 2.7 earnings per share for the current year.

Institutional Trading of Independent Bank Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBTX. Victory Capital Management Inc. raised its position in Independent Bank Group by 5.5% during the second 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 in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Independent Bank Group by 11.5% in the second quarter. Texas Permanent School Fund Corp now owns 35,042 shares of the bank’s stock worth $1,595,000 after acquiring an additional 3,609 shares during the period. American Century Companies Inc. boosted its stake in shares of Independent Bank Group by 12.0% during the 2nd quarter. American Century Companies Inc. now owns 64,837 shares of the bank’s stock worth $2,951,000 after acquiring an additional 6,951 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Independent Bank Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after acquiring an additional 39,091 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Independent Bank Group by 45.3% in the 2nd quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock valued at $2,378,000 after purchasing an additional 16,300 shares in the last quarter. Institutional investors and hedge funds 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.