Independent Bank Group (NASDAQ:IBTX) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report published on Saturday morning. The brokerage issued a sell rating on the bank’s stock.

Several other equities research analysts have also commented on the company. Keefe, Bruyette & Woods boosted their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note 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 on the stock in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.60.

Independent Bank Group Stock Up 0.5 %

Shares of NASDAQ IBTX opened at $60.67 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $62.99 and a 200 day moving average price of $59.20. Independent Bank Group has a 52 week low of $36.47 and a 52 week high of $68.66. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -5.80 and a beta of 1.39.

Hedge Funds Weigh In On Independent Bank Group

Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Independent Bank Group by 8.1% during the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock valued at $214,816,000 after acquiring an additional 279,112 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Independent Bank Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock valued at $50,697,000 after purchasing an additional 15,447 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Independent Bank Group by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock worth $27,981,000 after purchasing an additional 7,287 shares during the last quarter. Westchester Capital Management LLC grew its holdings in shares of Independent Bank Group by 15.5% during the third 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 in the last quarter. Finally, Silver Lake Advisory LLC acquired a new position in shares of Independent Bank Group in the second quarter valued at approximately $5,491,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

About Independent Bank Group

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.