Independent Bank Group (NASDAQ:IBTX) Receives “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Independent Bank Group (NASDAQ:IBTX) in a report published on Tuesday morning, Benzinga reports. Stephens currently has a $55.00 price target on the bank’s stock.

Several other research firms have also recently commented on IBTX. Raymond James boosted their price objective on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. Truist Financial cut their price objective on shares of Independent Bank Group from $58.00 to $52.00 and set a buy rating on the stock in a research report on Monday, April 1st. StockNews.com raised shares of Independent Bank Group to a sell rating in a research report on Thursday, January 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Independent Bank Group from $53.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $53.00.

Independent Bank Group Trading Down 3.2 %

Shares of NASDAQ IBTX opened at $40.55 on Tuesday. The company’s fifty day moving average is $43.49 and its 200-day moving average is $43.63. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 38.99 and a beta of 1.33. Independent Bank Group has a twelve month low of $28.81 and a twelve month high of $53.25. 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:IBTX) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. Equities research analysts predict that Independent Bank Group will post 2.88 EPS for the current year.

Institutional Investors Weigh In On Independent Bank Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Independent Bank Group during the 4th quarter worth about $47,000. NBC Securities Inc. bought a new stake in Independent Bank Group during the 3rd quarter worth about $55,000. Signaturefd LLC lifted its position in Independent Bank Group by 49.8% during the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after buying an additional 503 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Independent Bank Group by 51.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock worth $108,000 after buying an additional 925 shares in the last quarter. Finally, Relative Value Partners Group LLC acquired a new position in shares of Independent Bank Group during the 4th quarter worth about $217,000. 77.90% of the stock is owned by institutional investors.

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.