Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research note released on Thursday morning. The firm issued a sell rating on the bank’s stock.

A number of other research firms have also recently issued reports on IBTX. Keefe, Bruyette & Woods boosted their price objective on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an outperform rating in a research report on Monday, July 29th. Truist Financial boosted their price target on Independent Bank Group from $48.00 to $65.00 and gave the company a hold rating in a report on Monday, July 29th. Finally, Piper Sandler upgraded Independent Bank Group from an underweight rating to an overweight rating and increased their price objective for the stock from $38.00 to $58.00 in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $58.33.

Independent Bank Group Trading Down 3.6 %

Shares of IBTX stock opened at $58.83 on Thursday. The business has a 50-day moving average of $55.86 and a 200 day moving average of $47.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $61.76. The stock has a market capitalization of $2.43 billion, a PE ratio of 23.25 and a beta of 1.38.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. The firm had revenue of $252.52 million for the quarter, compared to analysts’ expectations of $120.25 million. During the same quarter last year, the business earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Independent Bank Group will post 2.86 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.52 annualized dividend and a yield of 2.58%. Independent Bank Group’s payout ratio is 60.08%.

Hedge Funds Weigh In On Independent Bank Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBTX. Headlands Technologies LLC bought a new position in shares of Independent Bank Group in the 1st quarter worth about $30,000. Fidelis Capital Partners LLC bought a new position in shares of Independent Bank Group during the first quarter valued at approximately $33,000. NBC Securities Inc. boosted its position in shares of Independent Bank Group by 19.7% in the 1st quarter. NBC Securities Inc. now owns 1,674 shares of the bank’s stock worth $76,000 after purchasing an additional 275 shares in the last quarter. Relative Value Partners Group LLC bought a new stake in shares of Independent Bank Group in the 4th quarter worth approximately $217,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $203,000. 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.