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 Tuesday. The firm issued a sell rating on the bank’s stock.

A number of other analysts also recently issued reports on IBTX. Truist Financial cut their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.33.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX opened at $61.55 on Tuesday. The firm has a 50-day simple moving average of $63.08 and a 200-day simple moving average of $56.67. 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 stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -5.88 and a beta of 1.39. Independent Bank Group has a 52 week low of $36.47 and a 52 week high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The business had revenue of $255.18 million during the quarter, compared to analysts’ expectations of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same period last year, the business earned $0.79 earnings per share. On average, equities analysts predict that Independent Bank Group will post 2.7 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Institutional Investors Weigh In On Independent Bank Group

A number of institutional investors and hedge funds have recently made changes to their positions in IBTX. JPMorgan Chase & Co. raised its position in Independent Bank Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 66,746 shares of the bank’s stock valued at $3,849,000 after purchasing an additional 10,307 shares during the period. Geode Capital Management LLC lifted 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 worth $50,697,000 after acquiring an additional 15,447 shares in the last quarter. Barclays PLC boosted its holdings in Independent Bank Group by 71.9% during the 3rd quarter. Barclays PLC now owns 79,414 shares of the bank’s stock valued at $4,578,000 after acquiring an additional 33,213 shares during the period. XTX Topco Ltd purchased a new stake in Independent Bank Group during the third quarter worth about $314,000. Finally, Jane Street Group LLC lifted its position in shares of Independent Bank Group by 76.3% during the third quarter. Jane Street Group LLC now owns 61,046 shares of the bank’s stock worth $3,520,000 after purchasing an additional 26,414 shares in the last quarter. 77.90% of the stock is owned by hedge funds and other 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.