Independent Bank Group, Inc. (NASDAQ:IBTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Independent Bank Group, Inc. (NASDAQ:IBTXGet Free Report) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $55.00.

IBTX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Truist Financial lifted their target price on shares of Independent Bank Group from $42.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Stephens reiterated an “overweight” rating and issued a $61.00 target price on shares of Independent Bank Group in a report on Tuesday, January 23rd. Raymond James lifted their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded shares of Independent Bank Group to a “sell” rating in a report on Thursday, January 25th.

Check Out Our Latest Analysis on IBTX

Hedge Funds Weigh In On Independent Bank Group

Large investors have recently modified their holdings of the stock. EA Series Trust acquired a new position in Independent Bank Group in the second quarter valued at approximately $3,000,000. Citigroup Inc. lifted its holdings in Independent Bank Group by 257.1% in the second quarter. Citigroup Inc. now owns 58,290 shares of the bank’s stock valued at $2,013,000 after buying an additional 41,969 shares during the period. SG Americas Securities LLC lifted its holdings in Independent Bank Group by 137.5% in the third quarter. SG Americas Securities LLC now owns 23,217 shares of the bank’s stock valued at $918,000 after buying an additional 13,443 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Independent Bank Group by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,459 shares of the bank’s stock valued at $809,000 after buying an additional 295 shares during the period. Finally, CWM LLC lifted its holdings in Independent Bank Group by 170.6% in the second quarter. CWM LLC now owns 1,391 shares of the bank’s stock valued at $48,000 after buying an additional 877 shares during the period. 74.74% of the stock is currently owned by institutional investors and hedge funds.

Independent Bank Group Trading Down 1.8 %

Shares of NASDAQ:IBTX opened at $51.38 on Friday. The firm has a fifty day moving average of $47.49 and a two-hundred day moving average of $42.62. The firm has a market capitalization of $2.12 billion, a P/E ratio of 49.40 and a beta of 1.39. Independent Bank Group has a 12-month low of $28.81 and a 12-month high of $65.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28.

Independent Bank Group (NASDAQ:IBTXGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The business had revenue of $116.92 million during the quarter, compared to analyst estimates of $123.83 million. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was down 23.6% on a year-over-year basis. On average, equities analysts expect that Independent Bank Group will post 2.98 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.96%. Independent Bank Group’s payout ratio is 146.16%.

Independent Bank Group Company Profile

(Get Free Report

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.

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Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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