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 equities analysts have also commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial reduced their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Independent Bank Group presently has a consensus rating of “Hold” and a consensus price target of $60.33.

Independent Bank Group Trading Up 0.5 %

Shares of IBTX opened at $60.67 on Thursday. The stock has a fifty day moving average of $63.53 and a two-hundred day moving average of $58.11. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. The company has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The company had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, analysts forecast that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s dividend payout ratio is currently -14.53%.

Institutional Trading of Independent Bank Group

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Independent Bank Group by 8.1% in the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock valued at $214,816,000 after buying an additional 279,112 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Independent Bank Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock worth $105,456,000 after acquiring an additional 39,091 shares during the period. Geode Capital Management LLC boosted its stake in Independent Bank Group by 1.8% during 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 Independent Bank Group by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock valued at $27,981,000 after buying an additional 7,287 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of Independent Bank Group in the 2nd quarter worth approximately $14,146,000. Institutional investors own 77.90% of the company’s stock.

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.