Independent Bank Group, Inc. (NASDAQ:IBTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTX) has received a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $60.60.

IBTX has been the topic of a number of analyst reports. StockNews.com initiated coverage on Independent Bank Group in a research report on Sunday. They issued a “sell” rating on the stock. Truist Financial dropped their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IBTX. FMR LLC raised its stake in Independent Bank Group by 8.1% during the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after buying an additional 279,112 shares during the period. ABC Arbitrage SA acquired a new position in Independent Bank Group during the 4th quarter worth approximately $4,625,000. Edgestream Partners L.P. acquired a new position in Independent Bank Group during the 3rd quarter worth approximately $3,521,000. Westchester Capital Management LLC raised its stake in Independent Bank Group by 15.5% during the 3rd quarter. Westchester Capital Management LLC now owns 304,444 shares of the bank’s stock worth $17,554,000 after buying an additional 40,944 shares during the period. Finally, Barclays PLC raised its stake in Independent Bank Group by 71.9% during the 3rd quarter. Barclays PLC now owns 79,414 shares of the bank’s stock worth $4,578,000 after buying an additional 33,213 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Independent Bank Group Trading Up 0.5 %

NASDAQ IBTX opened at $60.67 on Tuesday. The business’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $59.63. Independent Bank Group has a 12 month low of $36.47 and a 12 month high of $68.66. The firm has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

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.