Weekly Research Analysts’ Ratings Updates for Independent Bank Group (IBTX)

Several brokerages have updated their recommendations and price targets on shares of Independent Bank Group (NASDAQ: IBTX) in the last few weeks:

• 7/9/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 7/9/2024 – Independent Bank Group had its price target raised by analysts at Keefe, Bruyette & Woods from $46.00 to $57.00. They now have an “outperform” rating on the stock.
• 7/8/2024 – Independent Bank Group had its price target lowered by analysts at Truist Financial Co. from $50.00 to $48.00. They now have a “hold” rating on the stock.
• 7/1/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 6/23/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 6/15/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 6/7/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 5/31/2024 – Independent Bank Group was upgraded by analysts at Piper Sandler from an “underweight” rating to an “overweight” rating. They now have a $58.00 price target on the stock, up previously from $38.00.
• 5/30/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 5/29/2024 – Independent Bank Group had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $50.00 price target on the stock, up previously from $46.00.

Independent Bank Group Stock Up 1.0 %

NASDAQ IBTX traded up $0.50 during mid-day trading on Friday, hitting $49.82. The company’s stock had a trading volume of 221,132 shares, compared to its average volume of 263,602. The company’s 50 day simple moving average is $44.24 and its 200 day simple moving average is $45.06. Independent Bank Group, Inc. has a twelve month low of $34.50 and a twelve month high of $53.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 19.69 and a beta of 1.41.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $119.10 million during the quarter, compared to analyst estimates of $121.39 million. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. Independent Bank Group’s revenue was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Analysts anticipate that Independent Bank Group, Inc. will post 2.56 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.52 annualized dividend and a yield of 3.05%. Independent Bank Group’s payout ratio is 60.08%.

Institutional Investors Weigh In On Independent Bank Group

A number of institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Independent Bank Group in the first quarter worth approximately $30,000. Fidelis Capital Partners LLC purchased a new position in Independent Bank Group during the first quarter valued at approximately $33,000. GAMMA Investing LLC purchased a new position in Independent Bank Group during the fourth quarter valued at approximately $47,000. NBC Securities Inc. lifted its holdings in Independent Bank Group by 19.7% during the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock valued at $76,000 after purchasing an additional 275 shares in the last quarter. Finally, Relative Value Partners Group LLC purchased a new position in Independent Bank Group during the fourth quarter valued at approximately $217,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.