Independent Bank Group (NASDAQ:IBTX) Research Coverage Started at StockNews.com

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

Several other brokerages also recently commented on IBTX. Truist Financial upped their price target on shares of Independent Bank Group from $65.00 to $66.00 and gave the company a hold rating in a report on Friday, September 20th. Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an outperform rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $58.33.

Independent Bank Group Price Performance

Shares of Independent Bank Group stock opened at $60.84 on Friday. The stock has a 50 day moving average price of $56.51 and a 200-day moving average price of $49.36. Independent Bank Group has a one year low of $34.50 and a one year high of $61.87. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 24.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $0.60 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 company had revenue of $252.52 million during the quarter, compared to analyst estimates of $120.25 million. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities analysts expect that Independent Bank Group will post 2.86 EPS for the current year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 annualized dividend and a yield of 2.50%. Independent Bank Group’s dividend payout ratio (DPR) is 60.08%.

Hedge Funds Weigh In On Independent Bank Group

A number of hedge funds have recently added to or reduced their stakes in IBTX. Headlands Technologies LLC purchased a new position in shares of Independent Bank Group during the first quarter valued at $30,000. Fidelis Capital Partners LLC purchased a new position in Independent Bank Group during the 1st quarter valued at about $33,000. NBC Securities Inc. raised its holdings 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 valued at $76,000 after purchasing an additional 275 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Independent Bank Group in the 1st quarter worth approximately $203,000. Finally, AQR Capital Management LLC bought a new position in shares of Independent Bank Group during the second quarter valued at approximately $212,000. 77.90% of the stock is currently owned by institutional investors.

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.