Independent Bank Group (NASDAQ:IBTX) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Tuesday. The brokerage set a “sell” rating on the bank’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Truist Financial decreased their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.33.

Independent Bank Group Stock Up 0.3 %

Shares of Independent Bank Group stock opened at $60.47 on Tuesday. The business has a 50-day moving average price of $63.08 and a 200 day moving average price of $56.49. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. The firm has a market cap of $2.51 billion, a P/E ratio of -5.78 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX) last issued 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 negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same quarter last year, the firm posted $0.79 earnings per share. On average, sell-side analysts forecast that Independent Bank Group will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Independent Bank Group

A number of hedge funds have recently made changes to their positions in IBTX. Versor Investments LP increased its position in Independent Bank Group by 0.7% in 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 increased its holdings in shares of Independent Bank Group by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock valued at $824,000 after purchasing an additional 300 shares during the period. Sei Investments Co. increased its holdings in shares of Independent Bank Group by 0.8% during the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock valued at $2,894,000 after purchasing an additional 531 shares during the period. Victory Capital Management Inc. raised its stake in shares of 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 purchasing an additional 810 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing 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.